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The developer of the meme token Neiro (NEIRO) based on Solana earned $2.85 million, having invested only 3 SOL ($552) in the launch of the coin. This was noticed by Lookonchain analysts.
July 27 user using the Pump platform.fun released 97.5 million NEIRO. He then sold 68 million NEIRO for 15,511 SOL ($2.85 million) through multiple wallets. Thus, its profit was x5169.
It also sent 10 million Neiro to a dead address, leaving 19.5 million NEIRO ($1.8 million) with an unrealized profit of $ 1.8 million.
At the time of writing, the token price is up 56.1% at $0.01985, according to CoinGecko.
In turn, the eponymous token launched on the Ethereum network on July 28 is probably fraudulent, the blockchain detective Wazz warned.
According to him, the owner of the coin puts in the black list of any new buyers.
"It constantly calls AutomatedMarketMaker() with addresses, which changes the transfer() function Most [risk] scans don't detect this," Wazz wrote.
According to the Quick Intel blockchain analytics service,at the time of writing, the Neiro coin on Ethereum has a market capitalization of more than $17 million.
The site also warns that the owner has not given up control over the smart contract, so it can manipulate the price of the token or prohibit users from withdrawing or investing funds.
In addition, the token is directly connected to wallets outside its ecosystem, and its liquidity pool is not blocked, meaning that funds can hypothetically be exhausted at any time.
At the time of writing, Neiro's price on Ethereum is down 40.6% at $0.03868, according to CoinGecko.
Cointelegraph was unable to contact Ethereum developer Neiro and independently confirm Wazz's findings.
July 27 user using the Pump platform.fun released 97.5 million NEIRO. He then sold 68 million NEIRO for 15,511 SOL ($2.85 million) through multiple wallets. Thus, its profit was x5169.
It also sent 10 million Neiro to a dead address, leaving 19.5 million NEIRO ($1.8 million) with an unrealized profit of $ 1.8 million.
At the time of writing, the token price is up 56.1% at $0.01985, according to CoinGecko.
In turn, the eponymous token launched on the Ethereum network on July 28 is probably fraudulent, the blockchain detective Wazz warned.
According to him, the owner of the coin puts in the black list of any new buyers.
"It constantly calls AutomatedMarketMaker() with addresses, which changes the transfer() function Most [risk] scans don't detect this," Wazz wrote.
According to the Quick Intel blockchain analytics service,at the time of writing, the Neiro coin on Ethereum has a market capitalization of more than $17 million.
The site also warns that the owner has not given up control over the smart contract, so it can manipulate the price of the token or prohibit users from withdrawing or investing funds.
In addition, the token is directly connected to wallets outside its ecosystem, and its liquidity pool is not blocked, meaning that funds can hypothetically be exhausted at any time.
At the time of writing, Neiro's price on Ethereum is down 40.6% at $0.03868, according to CoinGecko.
Cointelegraph was unable to contact Ethereum developer Neiro and independently confirm Wazz's findings.
