An investor suffered a loss of $1.03 million in $MBAPPE after hackers exploited Kylian Mbappé’s fame to artificially inflate the coin’s value. On Thursday, a crypto scam involving the suspicious meme coin $MBAPPE stunned the cryptocurrency community. The scam began when hackers took control of French soccer star Kylian Mbappé’s X account to promote the token.
Enticed by the misleading hype, an investor invested 7,156 SOL (valued at $1.03 million) into $MBAPPE. However, the excitement quickly faded as the coin’s value crashed, reducing the investment to just $9,200 within an hour, wiping out nearly the entire amount.
In a surprising twist, the fraudulent $MBAPPE token was created on Pump.fun, a platform known for its simple and low-cost meme coin creation. Hackers leveraged Mbappé’s fame, posting enthusiastic promotions that temporarily caused the coin’s value to soar.
In another case, a sharp investor turned a mere $29 into an astounding $125,000 in just three minutes by trading this meme coin. On August 29, Lookonchain shared the incredible story of how a trader struck gold with the MBAPPE token, a cryptocurrency initially believed to be linked to French football star Kylian Mbappé.
The trader began by purchasing MBAPPE tokens with 0.2 Solana (SOL), which was worth $29 at the time. Just three minutes later, the tokens were sold for a staggering 866.13 SOL, worth approximately $125,160. This remarkable achievement represents an extraordinary 4,330% return on investment.
Over the past month, the trader experimented with 251 different meme coins, investing small amounts of 0.1, 0.2, or 0.3 SOL in each. Despite the high-risk nature of this strategy, the trader achieved a 35.46% success rate, accumulating total profits of $126,700.
Interestingly, some clever traders managed to profit. Chinese journalist Colin Wu reported that another investor turned a modest 2 SOL ($286) into approximately 1,398 SOL ($200,000) by selling at the coin’s peak.
Although the promotional tweets have since been removed, the damage was already done. The scam highlighted how easily high-profile accounts can be exploited to manipulate the crypto market. As the value of the $MBAPPE token plummeted to zero, the cryptocurrency community was left questioning the ethics and security of digital investments.
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Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.