Solana Meme Coin Hits a $328T Market Cap Using a Scam Method
Cryptocurrency investors continue pouring funds into a suspected Solana meme coin honeypot scam despite clear warnings that they may be unable to withdraw their investments.
BONKKILLER’s astronomical market cap of $328 trillion was achieved through a manipulative tactic of freezing token holders’ accounts and preventing sales called honeypot scam, according to Solana ecosystem news platform Solana-Floor’s April 29 X post.
Launched on April 29, the BONKKILLER Solana meme coin quickly amassed approximately $4.6 million in trading volume within 24 hours. Lurking beneath the surface of this seemingly lucrative opportunity was a deceptive scheme.
Birdeye data revealed that 90% of BONKKILLER tokens are concentrated in the hands of its creator. Investors who flocked to this new meme coin soon came to realize that they were unable to move their assets due to a freeze authority implemented by the developers, effectively trapping their investments and rendering them worthless.
