Data from cryptocurrency tracking service Lookonchain reveals that the developer of the newly launched Neiro altcoin has achieved substantial financial gains after a rug pull.
The developer initially acquired 97.5 million Neiro tokens for a mere 3 SOL, equivalent to around $500.
After the token’s price surged, the developer sold 68 million of these tokens for 15,511 SOL, or roughly $2.85 million, resulting in a profit of 15,508 SOL from this transaction.
Additionally, the developer sent 10 million Neiro tokens to a burn wallet, leaving them with 19.5 million tokens still in their possession, translating to an unrealized profit of approximately $1.8 million.
The Neiro token, launched on the Solana blockchain, is a meme coin named after Kabosu, the recently deceased dog who was the face of Dogecoin.
