CDS Crypto News Trader secures 7 million Dollars profit on SatoshiVM token launch through bribery
Crypto News

Trader secures 7 million Dollars profit on SatoshiVM token launch through bribery

The trader leveraged the widely used sniping trading bot known as Banana Gun to secure the initial purchase of the recently launched SatoshiVM tokens.

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Trader secures 7 million Dollars profit on SatoshiVM token launch through bribery

A cryptocurrency trader achieved a staggering profit of $6.77 million within a mere three hours of the SatoshiVM (SAVM) token launch. Employing the banana gun sniping tool, the trader strategically positioned themselves early during the token’s release, acquiring an impressive 2.61 million SAVM tokens for 277.66 Ether (ETH), valued at $681,000. Facilitated by the banana gun trading bot, which made its debut in September 2023, this tool provides users with the capability to swiftly snipe presale tokens in the cryptocurrency market. The trader opted for the ‘Automatic Sniper’ feature, albeit incurring a 0.75% fee, to enhance their trading strategy.

Trader secures 7 million Dollars profit on SatoshiVM token launch through bribery

The subsequent events unfolded dramatically as the token’s price experienced a staggering 99% drop within the initial three hours of its launch. Developers attributed this sharp decline to a bug within the system. Notably, the banana gun trading bot has been the subject of controversy, with instances reported of funds mysteriously vanishing post-sniping, contributing to the wider discourse on the risks associated with such trading tools.

In the case at hand, the trader executed the sniping strategy by expending 141.66 ETH to secure the position of the first buyer of SAVM at the launch, successfully obtaining over 2.5 million tokens. Seizing the opportune moment, the trader subsequently sold 2.16 million tokens for an impressive $4.38 million. As it stands, the trader retains ownership of 450,000 SAVM tokens, currently estimated to be valued at $3 million, resulting in an overall profit of approximately $6.77 million.

A 7 million Dollars profit is achieved by a trader who used bribery tactics during the launch of the SatoshiVM token

The noteworthy success of this trader using the banana gun tool garnered commendation and accolades on X (formerly Twitter), where they were hailed as a legend. Furthermore, the trader’s willingness to pay a substantial amount, precisely 141 ETH, in sniping fees, was acknowledged and praised within the cryptocurrency community.

Trader secures 7 million Dollars profit on SatoshiVM token launch through bribery

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