Public chain Solana’s meme coin project $LADYF announced the token contract this afternoon (22nd), but it was revealed that some individuals were able to pre-arrange purchases. Some people only spent 0.5 SOL ($90) and earned nearly $800,000.
(Prior summary: Meme coin SLERF raised 50,000 SOL and “accidentally burned it all,” founder apologizes: “I’m ready to go to jail”… Token skyrockets)
(Background supplement: BOME sparked the Solana “startup dog craze,” KOLs collectively warned: be careful of being scammed, pay attention to risks!)
Solana’s recent meme coin, BOME, has sparked a wave of meme coin issuance similar to ICOs. Numerous projects have started crowdfunding and attracted crazy pursuit from the community. Against this backdrop, meme coin project $LADYS announced on the 18th that its new meme coin, Milady Wif Hat, would commence pre-sale and raised funds in a short period of time.
Originally, for the additional funds raised, LADYS planned to return 75% to investors and invest 25% into the liquidity pool. However, perhaps fearing user backlash, they later stated that they would fully refund the excess funds. All tokens would be directly airdropped to participants, causing the community to exclaim, “They really have big plans!”
Plot twists, early insiders take action
Unexpectedly, the plot took a major turn. When the official token contract was set to be announced this afternoon, the community discovered that some individuals were able to pre-arrange purchases. According to on-chain data, a user (address: G95..) spent only 0.5 SOL (about $90) to purchase 2.89 billion $LADYF tokens at the time of $LADYF token release.
Less than two seconds later, the user sold 1.73 billion $LADYF at a price of 6 SOL. In subsequent transactions, the user sold 57 million $LADYF at a price of 1,522 SOL (about $274,000). Currently, this user still holds 58.7 million $LADYF, which is valued at approximately 287 SOL (about $516,000). They made a huge profit of $800,000 in a short period of time.
What’s even more dubious is that the project team provided liquidity on the decentralized exchange Raydium for only 1 SOL, and combined with the fact that many addresses made early purchases, the community is extremely dissatisfied, believing that the project team clearly intends to exploit retail investors.
Community KOLs criticize $LADYF
$LADYF faced a sell-off from holders who had pre-arranged positions at the opening. Currently, the price is at $0.00008314, a decrease of over 97% from the peak.
LADYF|Source: Dexscreener
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