According to Lookonchain, over 30 addresses suspected of insider trading bought SLINK early and sold quickly, realizing a combined profit of over $4.7 million, representing a return of more than 1,200x. The event is linked to Neuralink executive Shivon Zilis' tweet featuring the SLINK contract address and Elon Musk's reply, which briefly pushed the token's market cap to around $80 million before a steep decline of over 80% after Zilis deleted the post.
Blockchain tracking outfit Lookonchain says it found more than 30 addresses that look like insider traders. These wallets bought SLINK early, then dumped it soon after, pocketing more than $4.7 million in total. The reported return topped 1,200x. Whether any of those addresses are tied to the project team is still unknown.
What set this off? A tweet from Neuralink executive Shivon Zilis. She shared a post that included the SLINK contract address. Elon Musk then replied to that tweet, and SLINK’s market cap briefly jumped to about $80 million. But after Zilis deleted the post, the token’s price crashed more than 80%.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
