The President Trusted, Fell Victim to the Wrath of the Meme Coin: 2 Million Loss in 2 Hours! - Coin Bulletin

An investor lost $2.07 million due to a price drop after buying $2.85 million worth of LIBRA tokens within 2 hours.

According to the data shared by Lookonchain, an investor purchased 1.11 million LIBRA tokens by spending 14,214 SOL (2.85 million dollars, However, as the price of the token rapidly declined, the investor was only able to sell for 3,954 SOL )781 thousand dollars. This sudden loss in value resulted in the investor losing 10,260 SOL (2.07 million dollars.

This incident shows that after the release of the LIBRA token, it rapidly lost value and many investors suffered serious losses. LIBRA, which attracted great interest with Milei's introduction, lost a large part of its value within a few hours, strengthening insider trading allegations and turning into a major scandal that shook investor confidence.

11 wallets created just hours before the launch of LIBRA had made a total profit of $43.8 million.