PANews, September 5: According to Onchain Lens monitoring, after Musk replied to a SLINK post from Shivon Zilis’s compromised account, multiple traders rushed into the token. Four traders alone lost approximately $8.07 million. The market cap of $SLINK surged briefly to around $80 million before crashing to approximately $2 million, a decline of over 97% from its peak.
Four traders lose $807,000 after Musk responds to fake SLINK post
PANewsShare
Summary
Four traders lost $807,000 after Elon Musk replied to a fake post about the SLINK token from a hacked account belonging to Shivon Zilis. The $SLINK market cap surged to $80 million before plummeting to $2 million—a 97% drop. The incident underscores the risks in the crypto market and serves as a reminder for investors to remain cautious when evaluating altcoins to watch.
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