An unknown Crypto trader has made one of the most unlikely fortunes of the year, making a $ 68,700 bet converted into about $ 9.4 million by supporting a token from a social media hack.
On October 3 Lookonchain Blockchain Analytics firm reported That the trader bought 63.07 million units of a Binance smart chain -token called “4” on October 1 for 68 BNB.
Within two days, the value of that stock was multiplied by more than 135x, so that the holder had left a non -realized profit of around $ 9.3 million. This remarkable profit again emphasizes the extremes of Memecoin speculation.
In contrast to conventional cryptocurrencies, these tokens often miss the underlying utility and act almost entirely on social sentiment. Their volatility makes them risky, but the potential for exponential profit continues to attract new investors.
4 Memecoin Origin Story
The “4” Memecoin -token has an unusual background story. On October 1, attackers hijacked the official BNB chain X -account and used it to distribute phishing links.
Bnb chain later reported That ten malignant links were shared during the infringement, which resulted in approximately $ 8,000 in total losses between networks, with one user resulting in a loss of a maximum of $ 6,500.
Yu Xiang, founder of Blockchain security company Slowmist, connected the attack with Inferno drainer. He said:
‘[This is] Another phishing operation related to the infamous Inferno Drainer Phishing Group. Judging by one of the phishing portion addresses, the number of victims can be a few dozen
Inferno Drainer is a notorious group that is known for offering “drainer-as-a-service” kits. These tools enable scammers to create fake websites and accounts that are designed to make funds in exchange for part of the stolen assets.
In the meantime, the attackers had that too launched The “4” memecoin during the exploit and selling their first property for around $ 4,000. They then manipulated the market to increase prices and organized another exit for $ 22,000 before they left the project.
In many cases this would have been the end of the story. Instead of collapse, however, token thought it was new life. Crypto-traders consolidated liquidity, so that the project was effectively taken out of the hands of the attacker and it was actively converted into a community led by the community.
That unexpected shift fed a price die. Markt Tracker Dexscreener to show That “4” has won nearly 200% in the last 24 hours and was traded at $ 0.1775 with market capitalization above $ 150 million from the moment of press.