Is it sheer luck or insider trading? A cryptocurrency investor made a staggering $1.25 million in just eight minutes after investing $17,000. The token in question is Hive AI (BUZZ), which experienced a 75-fold rise after it gained popularity on social media. The founding team has a strong presence on social media and community initiatives, mainly powering its robust yet dramatic growth.
A mysterious and unidentified cryptocurrency investor went from rags to riches with Hive AI (BUZZ) in under eight minutes. Also, the ‘buy’ and ‘sell’ options were executed in perfect timing by the anonymous trader, where $17,000 became $1.25 million.
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Cryptocurrency: Investment of $17,000 Becomes $1.25 Million in 8 Minutes
Source: Pixabay
Here’s how things unfolded in the grand cryptocurrency scheme. The mysterious trader executed the BUZZ/SOL trading pair on the decentralized trading platform DEX. He spent 82 SOL worth $17,000 and accumulated 268.12 million Hive AI (BUZZ) tokens. The purchase made the investor accumulate 26.8% of the overall tokens availability.
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However, its price soared, and the trader quickly sold the Hive AI (BUZZ) tokens, accumulating 6,090 SOL, worth $1.25 million. The trade was executed in just eight minutes, and he took home millions of dollars in cryptocurrency.
Speculations are rife that the trader in question could be an insider who is making his way by scamming people. Specifics indicate that the trader spent an additional 49 SOL as fees, which is worth nearly $10,000. Moreover, the trade was initiated much ahead of other investors who tried to buy the token. Therefore, the chances of the developers making money before normal cryptocurrency investors remain high.
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Leading on-chain metrics firm Lookonchain was the first to dish out the suspicious cryptocurrency transaction. It is advised to trade Hive AI (BUZZ) at your own risk as it is notably a novice yet obscure token. Hive AI (BUZZ) was launched on the Solana blockchain in December 2024 to enable users to maintain autonomous on-chain agents.
