Controversial Crypto Wallet Launches Memecoin, Plummets 97%

A wallet connected to a suspected theft from a US crypto seizure introduced a Solana memecoin that subsequently fell 97%, raising tokenomics alarms.

A cryptocurrency wallet associated with an alleged theft from a US governmental crypto seizure has made headlines by launching a new memecoin on the platform Pump.fun. However, this newly introduced Solana memecoin faced a dramatic decline, crashing by an astonishing 97%, which has raised serious concerns regarding its tokenomics.