Hunter Biden blamed market makers for the sharp plunge after LAPTOP went live and denied that the team cashed out.

BlockBeats news, October 7: Hunter Biden, son of former U.S. President Biden, posted the independent investigation results regarding the LAPTOP token launch incident, stating that he had commissioned the forensics firm Groom Lake to verify all transactions on the day of launch. He denied that the team cashed out, saying that the founder tokens remain concentrated in the same wallet and have not moved since launch; his personal tokens are locked for six months and then released over two years.

Citing the investigation, he said that Market Maker 1 had $500,000 in startup funds but injected only about $5,200 and fewer than 30,000 tokens into the liquidity pool, with the latter accounting for only 0.003% of the supply. Extremely low liquidity caused the price to rise from $0.05 to about $317 in less than two minutes, then fall 98% within the following hour. Eighty-four seconds after the price peaked, Market Maker 1 withdrew funds during the sell-off, reducing the funds available near the current price to absorb selling from $16,157 to zero.

He said that Market Maker 1's DEX position profit was about $686,000, while Market Maker 2's related DEX trading net profit exceeded $2.1 million, and argued that the market maker responsible for the launch problems should buy back and burn tokens. He stated that he bears ultimate responsibility, will not exit the project, and plans next week to burn most of the unclaimed tokens from the first airdrop; that airdrop accounted for 10% of the total supply.