Based

Solana

Memecoin

Step Finance

A new Solana-based memecoin, known as BONKKILLER, has caught the attention of many members of the cryptocurrency community by claiming an astonishing market cap of $328 trillion. Despite warnings and the apparent trap, over 1,000 investors have been drawn to the coin, which ranks as the highest market cap asset falsely. The memecoin, launched on April 29, has <a href="https://birdeye.so/token/mDBNSUv8LZzktDAGpDJVRWSfCpCjgeDeHYkeHtz97ka?chain=solana" target="_blank" rel="noreferrer noopener" data-wpel-link="external">seen</a> around $4.6 million in trading volume within just 24 hours. 
BONKKILLER is a typical scam. It attracts investors with the prospect of high profits but then prevents them from selling their tokens. The developer has implemented a “freeze authority” feature that restricts token transfers, effectively locking investors’ funds. 
According to SolanaFloor, BONKKILLER is neither backed by significant fiat resources nor provides any real liquidity, as token holders are prevented from selling. This situation underscores the memecoin’s artificially inflated market cap as misleading and impractical. 
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 🚨 LATEST: <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">@solana</a> Memecoin (BONKKILLER), a scam and honeypot token, surpasses $100 trillion Market Cap following developer action to freeze token holders' accounts and prevent token sales. <a href="https://t.co/JrigH74Ffn" target="_blank" data-wpel-link="external">pic.twitter.com/JrigH74Ffn</a>— SolanaFloor | Powered by Step Finance (@SolanaFloor) <a href="https://twitter.com/SolanaFloor/status/1784921830815604972?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">April 29, 2024</a>
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Despite advice alerting the crypto community about the risks of investing in such schemes, traders continue to purchase BONKKILLER tokens. This trend highlights the crypto market’s ongoing vulnerability to scams such as rug pulls and honeypots, which target unsuspecting users. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/29/solana-based-dogwifhat-token-soars-40-past-listing-on-bybit/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Solana Based DogWifHat Token Soars $40 Past Listing on Bybit</a> 
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BONKKILLER Scam Lures Investors on Solana Platform

The Crypto Times

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