An insider sold 50% of the total SHAR supply in one transaction, causing the price to crash and making a profit of $2.4 million

BlockBeats reported that on October 24, according to Lookonchain monitoring, an insider sold 500 million SHAR (50% of the total supply) in a transaction in exchange for 19,620 SOL (about $3.38 million), causing the price of SHAR to collapse by 96%.

The insider used 5,710 SOL (about $948,000) in 16 wallets for sniping, obtained 665.6 million SHAR (66.56% of the total supply), and distributed it to more than 100 wallets.

4 hours ago, he collected 500 million SHAR from 104 wallets and sold them all in one operation, earning 13,910 SOL (about $2.4 million).