TechFlow reports that on January 21, according to Onchain Lens monitoring, a counterfeit BARRON token quickly reached a market cap of approximately $72 million after launch, with one insider wallet profiting over $1 million. The wallet purchased around 136 million BARRON tokens for 4.43 SOL (about $1,048) and later sold them for 4,456 SOL (worth approximately $1.05 million). Monitoring indicates that the fake token involved multiple insider wallets, with the majority of large holder addresses incurring losses.
It is reported that around 15:10 today, a verified counterfeit account @TrumpwBarron posted the Meme coin address; the account has since been suspended.
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