CYBERLEEK jumps more than 40% in 4 hours, market cap climbs back to $14.5 million

BlockBeats reported on Aug. 25 that CYBERLEEK, a Solana-based meme coin issued by a group calling itself Cyberleek, rose more than 40% in the past four hours and its market cap recovered to $14.5 million, according to GMGN monitoring. The group launched the token after leaking GTA 6 footage. It also claimed it would release a GTA 6 PC download client and said everyone could play the $2 billion title for free, but that claim has already been disproven. On Aug. 22, Cyberleek publicly burned about 270 million developer-reserved tokens, equal to roughly 27% of total supply. The group said the move was meant to prove it would not dump the token and run, but it still holds a large amount of tokens and continues to earn from trading fees. BlockBeats also warned that meme coins often have no real use case and can be volatile, and said investors should be cautious.