As a seasoned researcher with a knack for uncovering the stories behind the numbers, I find myself intrigued by this Malone saga. On one hand, we have a young man named Malone Lam, who’s made headlines for all the wrong reasons – allegedly orchestrating a massive Bitcoin scam that landed him in U.S. custody. On the other hand, we have a meme token bearing his name, skyrocketing on decentralized exchanges like Raydium and Moonshot.
Currently, Malone Lam is gaining popularity, with a humorous meme surrounding his name that’s climbing the ranks to become one of the most traded pairings on decentralized exchange platforms.
Based on blockchain information, the Malone/Solana trading pair on the Raydium decentralized exchange experienced a staggering increase of over 1,000% within a day. This meme coin was among the top traded coins on the Solana network, achieving a 24-hour trading volume of approximately $4.4 million. At that time, its market capitalization was around $751,000.
As I, the researcher, observe the cryptocurrency market, I notice that Malone was recently trading at approximately $0.0006712, marking a significant increase of around 927% within the last 24 hours. However, it’s important to note that on Raydium, the largest Decentralized Exchange (DEX) platform on Solana, Malone reached a peak of $0.0017713. Interestingly, Dexscreener indicates that on Moonshot, the price of Malone reached as high as $0.000506.
What is Malone meme?
Do you recall the news about the 20-year-old Singaporean named Malone Lam who was detained in the United States due to allegations of a $230 million Bitcoin (BTC) fraud scheme? That’s him!
The FBI apprehended Lam together with Jeandiel Serrano, aged 21, on charges of fraud and money laundering, following ZachXBT’s discovery that they were the architects of a $230 million cryptocurrency heist. Veer Chetal, another individual implicated in the scam, had not been taken into custody at that point.
On September 24th, Malone was introduced as a meme-inspired token, stemming from the Malone Lam tale. Numerous traders have joined the bandwagon in search of swift profits, with discussions within the community focusing on driving its market value to approximately $230 million – an amount allegedly embezzled by Lam.
Additionally, it’s worth mentioning that some purchasers claim their interest isn’t rooted in endorsement of the scam, but rather due to Malone Lam being perceived as “an actual internet meme.
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2024-09-24 17:14