CYBERLEEK, a Solana-based meme token tied to the self-described Cyberleek hacking group, briefly pushed past a $25 million market capitalization on Aug. 23, according to GMGN monitoring cited by BlockBeats. The token also hit a fresh all-time high, with its 24-hour gain exceeding 14x and trading volume reaching $36.1 million.
BlockBeats said the group launched the token after gaining attention for leaking clips related to Grand Theft Auto VI, or GTA 6. The same group had claimed it would release a PC download client for the game so users could play it for free, despite describing the title as a $2 billion production. That client claim has since been debunked.
On Aug. 22, Cyberleek publicly burned about 270 million developer-reserved tokens, roughly 27% of total supply, and framed the move as proof it would not dump its holdings and exit. Even so, the report noted that the group still retains a large amount of tokens and continues to earn money through trading fees. BlockBeats added a cautionary note, saying meme tokens often lack real-world use cases and can see sharp price swings.
CYBERLEEK, a Solana meme token linked to the self-described Cyberleek hacking group, briefly crossed a $25 million market capitalization on Aug. 23 and set a new all-time high, according to GMGN data cited by BlockBeats.
The token rose more than 14x over the past 24 hours, while 24-hour trading volume reached $36.1 million.
BlockBeats said the token was launched by a group calling itself Cyberleek, which drew attention after leaking clips from GTA 6. The group had also claimed it would release a PC download client for Grand Theft Auto VI, saying anyone would be able to play the title without paying for it, even as it described the game as a $2 billion production. That client claim has since been disproven.
On Aug. 22, Cyberleek publicly burned about 270 million developer-reserved tokens, equal to roughly 27% of the total supply, and said the move was meant to "prove" it would not dump tokens and run. Even so, the report said the group still holds a large amount of tokens and continues to make money from trading fees.
BlockBeats warned that meme tokens often have no practical use case and can carry sharp price volatility, urging caution from investors.
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