A major cryptocurrency owner earned $ 10 million on a little-known digital token

Note: not investment advice!

According to digital asset tracker Lookonchain, a cryptocurrency investor managed to turn a few thousand dollars into $ 10 million in one day.

This happened due to the success of the GUMMY token, which the user chose to invest in. In just one day, the trader managed to turn a few thousand dollars into $ 10 million. Here’s how he did it:

• 12 minutes before the launch of GUMMY, an unknown investor withdrew 65.23 Solana (SOL) from the MEXC crypto exchange.
• 64.the user spent 5 SOL ($ 9769) to buy 97.36 million GUMMY. The transaction took place during a block in which the developers added liquidity to the project.
• After that, the unknown person transferred 97.36 million GUMMY to 10 different wallets.

GUMMY’s growth on the first day of trading exceeded 50,000%. Amid the positive dynamics of the cryptocurrency, the unknown person’s initial investment generated 1025 requests. Thus, he turned $ 9769 into $ 10 million in just one day.

GUMMY is another memecoin based on the Solana blockchain. The main character of the project is a gummy bear. Cryptocurrency community members decided that in this case, it was not a lucky trader, but an insider who used sensitive information about the project to make money. Some of Lookonchain’s subscribers pointed out that false information about GUMMY had previously been spread, according to which the project team and people close to them did not have any coins. In their opinion, the case of «successful investments» in cryptocurrencies noted by analysts points to a conspiracy.

No Worries strongly advises readers not to invest in dubious crypto projects and little-known digital assets!