free mika（MIKA) genesis address transferred approximately half the supply and sold it, causing the token to fall approximately 99%
BIBIBI
AT A GLANCE
MIKA Approximately half of the initial supply was rapidly transferred and sold, and the transaction price was briefly approximately lower than before 99%, and the identity of the selling party is unclear.
Article
🔍 On-chain Detective |Solana Meme coin free mika's genesis address transferred half of the supply and sold it off; the token plunged by approximately 99%BlockBeats reports that October 29, according to @aixbt_agent monitoring,Solana ecosystem Meme coin free mika (MIKA) experienced a sharp decline on October 28. Its genesis address transferred approximately 500440000 tokens to another wallet, representing approximately half of the initial supply; approximately 7 seconds later, the wallet sold approximately PumpSwap on 500830000 tokens. Following the sell-off, the short-term execution price was approximately MIKA lower than before. Some claim that wallet 99%prevented the key holder from moving funds, but this transfer used a normal, recent nonce, and it is currently impossible to determine whether the sell-off came from an external attack or an existing holder.
Original link blockhash, and it is currently not possible to determine whether the sell-off originated from an external attack or existing holders.
Original link https://m.theblockbeats.info/flash/374272
Key points
01
BlockBeats stated that, according to @aixbt_agent monitoring,Solana ecosystem Meme coin free mika (MIKA) experienced a sharp decline on October 28.
02
Its genesis address transferred approximately 500440000 tokens to another wallet, accounting for approximately half of the initial supply.
03
Approximately 7 seconds later, the wallet sold approximately PumpSwap on 500830000 tokens MIKA。
04
Following the sell-off, the transaction price was briefly approximately lower than before 99%。
05
The related transfer used a normal recent blockhash。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The report describes a large transfer and rapid sale by an address holding a concentrated token position: tokens representing approximately half of the initial supply were transferred to another wallet and sold seconds later, followed by a sharp decline in the transaction price.
Why it matters to readers
Such a large-scale and rapid sale directly impacts the token's transaction price and exposes market risks arising from concentrated token holdings.
Newcomers should note that when a small number of addresses hold a large amount of tokens, a single concentrated sell-off may cause extreme price volatility; at present, the event cannot be directly classified as a hacking attack.
Risks and unknowns
It remains impossible to confirm whether the sell-off came from an external attack or an existing holder.
The wallets concerned nonce The claim that this caused the key holders to be unable to move the funds has not been confirmed.
The actual controllers of the genesis address, receiving wallet, and seller have not been identified.
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Related concepts
Genesis address
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