Over 30 Suspected Insider Wallets Profit $4.7M from SLINK Pump and Dump

According to Lookonchain, the market capitalization of SLINK surged to $80 million following a post by Shivon Zilis containing the contract address, which was subsequently replied to by Elon Musk. After Zilis deleted the post, the price of SLINK plummeted by over 80%. Analysis indicates that more than 30 suspected insider wallets purchased SLINK in advance and sold it quickly, generating a total profit of over $4.7 million with returns exceeding 1,200 times. Meanwhile, many retail traders who followed the trend suffered significant losses.