Solana meme coin free mika's genesis address transferred nearly half of the supply and sold off, causing the token to plummet by about 99%.

BlockBeats news, October 29 — According to monitoring by @aixbt_agent, Solana ecosystem meme coin free mika (MIKA) experienced a sharp decline on October 28. Its genesis address transferred approximately 500.44 million tokens to another wallet, accounting for about half of the initial supply; about 7 seconds later, that wallet sold approximately 500.83 million MIKA on PumpSwap, and after the sell-off, the short-term execution price was about 99% lower than before. Some claims suggest that the wallet nonce prevented the key holder from moving the funds, but the transfer used a normal recent blockhash, and it is currently still impossible to confirm whether the sell-off came from an external attack or an existing holder.