An unknown crypto trader has made one of the most unlikely fortunes of the year, turning a $68,700 bet into roughly $9.4 million by backing a token that originated from a social media hack.
Within two days, the value of that stash had multiplied by over 135x, leaving the holder with an unrealized gain of roughly $9.3 million. This remarkable profit once again highlights the extremes of memecoin speculation.
Unlike conventional cryptocurrencies, these tokens often lack underlying utility and trade almost entirely on social sentiment. Their volatility makes them risky, yet the potential for exponential gains continues to draw new investors.
The “4” memecoin token has an unusual backstory. On Oct. 1, attackers hijacked the official BNB Chain X account and used it to distribute phishing links.
“[This is] another phishing operation related to the notorious Inferno Drainer phishing group. Judging by one of the phishing wallet addresses, the number of victims might be a few dozen
In many cases, this would have been the end of the story. However, instead of collapsing, the token found new life. Crypto traders consolidated liquidity, effectively taking the project out of the attacker’s hands and transforming it into a community-led asset.
