Solana

United

Raydium

April

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 <p class="paragraph">A Solana (SOL) ecosystem cryptocurrency trader made nearly 4,000% of unrealized gains in a 5-hour trade, raising alerts for insider trading. The initial investment worth $49,000 suddenly became a $2 million stack of TORI, a recently launched meme coin.</p>
 <p class="paragraph">According to a report by <em>Lookonchain</em>, a <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a> spent 344 SOL, worth $49,000, to purchase 261.4 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> TORI. The initial SOL originated from two Binance withdrawals to two new wallet addresses on April 25 and 26.</p>
 <p class="paragraph">Notably, the trader transferred the TORI tokens to multiple addresses on April 28, immediately after buying them. The 261.4 million TORI has a valuation of $2 million and reached approximately five hours after the trading activity.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <p class="paragraph">This raised an alert for insider trading, as <em>Lookonchain</em> and several other accounts commented on X (formerly Twitter). Furthermore, the addresses followed a similar behavior, suggesting they belong to the same entity.</p>
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    <p lang="en" dir="ltr">Insider trading?<br><br>This guy turned $49K to $2M in just 5 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a>, a gain of 41x!<br><br>He withdrew 345.6 $SOL($49K) from #Binance via 2 fresh wallets and spent 344 $SOL($49K) to buy 261.4M $TORI. <br><br>He transferred the 261.4M $TORI to multiple wallets without selling them. <br><br>Currently, the… pic.twitter.com/ENVBxzKHGH</p>— Lookonchain (@lookonchain) April 28, 2024
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 <h2 class="wp-block-heading" id="h-2-million-worth-solana-trader-may-face-liquidity-issues">$2 million-worth Solana trader may face liquidity issues</h2>
 <p class="paragraph">However, the trader now needs to liquidate the tokens in order to realize these massive gains. In the highly volatile cryptocurrency landscape, unrealized profits can vanish as quickly as they were acquired.</p>
 <p class="paragraph">In particular, this token, now labeled Tori the Cat (TORI) by <em>SOLScan</em>, is not properly identified by Raydium’s platform. Raydium is a decentralized exchange where the suspect insider trader bought the $2 million-worth TORI with Solana.</p>
 <p class="paragraph">The platform’s liquidity pool can only recognize Tori the Cat by its mint address ‘D8F1F…dRexP.’ On that note, it has a 6,466.24 SOL and a 93.65 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> TORI available liquidity for swaps.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="832" height="372" src="https://cdn.thebittimes.com/images/2024/04/28/dcbc97ffd6b98de51f4865955afeaaf2.webp" alt class="wp-image-172315" srcset="https://cdn.thebittimes.com/images/2024/04/28/dcbc97ffd6b98de51f4865955afeaaf2.webp 832w, https://cdn.thebittimes.com/images/2024/04/28/dcbc97ffd6b98de51f4865955afeaaf2.webp 300w, https://cdn.thebittimes.com/images/2024/04/28/dcbc97ffd6b98de51f4865955afeaaf2.webp 768w" sizes="(max-width: 832px) 100vw, 832px">
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   Tori the Cat (TORI) and Solana (SOL) liquidity pool. Source: <em>Raydium</em>
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 <p class="paragraph">Therefore, it is currently impossible to fully realize the $2 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> profit while also being extremely challenging to realize any significant profit whatsoever.</p>
 <p class="paragraph">Trading meme coins and low-liquidity tokens is a high-risk endeavor and is not recommended for beginners. Before engaging with these cryptocurrencies, traders must remain cautious and properly understand how liquidity issues may affect profit realization.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em>&nbsp;The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-trader-turns-49-000-into-2-million-in-5-hours-tbt86837.html">https://thebittimes.com/solana-trader-turns-49-000-into-2-million-in-5-hours-tbt86837.html</a></p>

Solana trader turns $49,000 into $2 million in 5 hours

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