According to ME News, on September 5 (UTC+8), monitoring by LookonChain revealed that after Shivon Zilis shared a post containing the SLINK contract address and Elon Musk subsequently replied, SLINK’s market cap surged to $80 million. After Shivon deleted the post, the SLINK price immediately dropped more than 80%. Analysis indicates that over 30 suspected insider wallets bought SLINK in advance and quickly sold, collectively profiting over $4.7 million, with peak gains exceeding 1,200 times. Meanwhile, numerous traders who followed the rally incurred losses. (Source: BlockBeats)
Over 30 suspected insider wallets profit $4.7M from SLINK price surge
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Summary
Over 30 suspected insider wallets made $4.7 million from a sharp SLINK price surge on September 5 (UTC+8). The crypto price spiked after Shivon Zilis posted the SLINK contract address, with Elon Musk replying. The market cap briefly reached $80 million before the post was deleted, causing an over 80% drop. Many traders lost money following the trend. (Source: BlockBeats)
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