Monitoring CZ's Wallet: Trader "Snipes" MARSCOIN, Making $282,000 Profit in a Few Hours

BlockBeats News, August 17th, according to LookIntoChain monitoring, a trader monitored CZ's public wallet and completed a high-reward MARSCOIN transaction within a few hours. On-chain data shows that at the same time CZ's wallet burned 4,444 MARSCOIN, the trader swiftly bought 84.61 million MARSCOIN with 16 BNB (approximately $9,645).

To front-run other traders, the trader significantly increased the Gas price to hundreds or even thousands of times the normal level and paid a $9.93 fee. After the purchase, the trader employed a "double and withdraw principal" strategy, selling around 42.3 million MARSCOIN for 16.4 BNB, recouping the initial investment, making the remaining position essentially a "zero-cost" position.

Subsequently, instead of immediately exiting the position, the trader continued to sell the remaining 42.3 million MARSCOIN in batches to avoid exiting too early as the token price continued to rise. Eventually, the trader sold the remaining tokens for a cumulative 465 BNB, equivalent to approximately $282,000 at the time.