DeFi Development Corp. Launch Sparks Meme Coin Controversy
DeFi Development Corp. (DFDV) recently launched its meme coin Disclaimer Coin (DONT), but immediately faced accusations of insider trading across social media platforms.
Trader's Early Buying Sparks Criticism
The company claims that a trader, identified as an 'early sniper'—someone who systematically buys new tokens—purchased DONT worth $4,000 before the official announcement. Following the price surge, this stake quickly ballooned to over $1 million.
Blockchain Data Reveals Timing Red Flags
According to Solscan blockchain data, the trader used a Solana wallet address ending in '8FziB' and began buying DONT just 25 minutes after the token was created. This was almost an hour before the company officially announced the token launch.
Company Response Draws Further Scrutiny
DeFi Development Corp. denied any wrongdoing and described the trader's actions as opportunistic market behavior. However, the incident has drawn significant attention from the community and crypto observers alike.
- Token Launch Time: Approximately 8:30 a.m. ET Thursday
- Trader's Buying Start: 7:39 a.m. ET
- Total DONT Purchased: Around 29 billion tokens
- Percentage of Total Supply: Nearly 7%