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Lookonchain monitoring: Kimchi token plummets over 95% after Pumpfun co-founder Alon withdraws retweet, scammers profit over $385,000.
According to on-chain monitoring firm Lookonchain, after crypto trader @kimchi1x received 500 million Kimchi tokens and posted a related tweet, Pumpfun co-founder @a1lon9 retweeted it, causing the Kimchi token's market cap to surge to $14 million. However, @a1lon9 subsequently unretweeted, and @kimchi1x deleted the original post, leading to a more than 95% crash in the token's price. Lookonchain discovered that scammers used multiple wallets to buy Kimchi tokens at low prices and then sold them for a profit exceeding $385,000.
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