An early investor in the newly launched PUMP token has reportedly forfeited nearly $6 million in unrealized gains after a miscalculated move involving Binance.
According to blockchain analytics firm LookOnChain, the entity, identified as “PUMP Top Fund 2,” deposited 2 billion tokens—then valued at $12.79 million—into Binance just eight days ago, anticipating a spot listing that never materialized.
With no listing available, Binance returned the tokens nearly a day later. The investor then transferred the entire stash to Bybit.
However, in the time between deposit and transfer, PUMP’s price dropped by 46%, from $0.0064 to $0.0035, wiping out what could have been a $6 million profit.
PUMP, the token powering Solana’s meme launchpad PumpFun, saw an initial price surge following its ICO, but quickly declined below its offering price—leaving some early buyers in the red.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/investor-loses-6-million-crypto-profit-after-one-mistake/