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<p>Crypto trading offers incredible opportunities. But it also comes with significant risks, especially when it comes to newly created and unproven tokens. The recent story of a trader who invested about $1.03 million in a meme token called MBAPPE perfectly illustrates these dangers.</p> 
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     <p lang="en" dir="ltr">Someone created a new wallet and spent 7,156 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($1.03M) to buy a <a href="https://twitter.com/hashtag/MEMEcoin?src=hash&amp;ref_src=twsrc%5Etfw">#MEMEcoin</a> named <a href="https://twitter.com/search?q=%24MBAPPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MBAPPE</a> in a single transaction, which is now only worth $9.2K.<br><br>This person lost more than $1M in just 1 hour!<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f631.png" alt="😱" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/IKsUN14km1">https://t.co/IKsUN14km1</a> <a href="https://t.co/kTF6SQCKT4">pic.twitter.com/kTF6SQCKT4</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1828981144341360747?ref_src=twsrc%5Etfw">August 29, 2024</a>
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  A crypto trader loses almost all his investment in 60 minutes
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<h2 id="h-le-desastre-crypto-d-un-trader-la-faute-au-memecoin-mbappe">A trader’s crypto disaster: The fault of the MBAPPE memecoin?</h2> 
<p>This trader <strong>invested 7,156 SOL in a newly created crypto token</strong>: the MBAPPE token. Launched on the Solana blockchain, this crypto asset attracted attention due to its association with the football celebrity <a href="https://www.cointribune.com/en/kylian-mbappe-hacked-millions-lost-in-a-crypto-scam/" target="_blank" rel="noreferrer noopener">Kylian Mbappé</a>. Unfortunately, his X account was hacked to promote this scam.</p>
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<p>Unfortunately for this trader, the value of the MBAPPE crypto asset plummeted dramatically within an hour. Result: his initial investment was reduced to $9,000. Thus, he <strong>lost over 99% of its original value</strong>.</p> 
<p>Meanwhile, <a href="https://finbold.com/crypto-trader-hits-jackpot-turns-29-into-125000-in-3-minutes/" target="_blank" rel="noreferrer noopener">another trader</a> turned <strong>a modest $29 investment into $125,000</strong> in just three minutes by trading the MBAPPE token.</p> 
<h2 id="h-arnaque-crypto-ou-erreur-quelles-sont-les-lecons-a-tirer-de-cette-histoire">Crypto scam or mistake? What lessons can be learned from this story?</h2> 
<p>The story of this unlucky trader highlights several important lessons for those investing in the crypto market.</p> 
<ul> 
 <li>Never invest money you cannot afford to lose (especially in newly created and unproven crypto tokens)</li> 
 <li>Be wary of <a href="https://www.cointribune.com/en/crypto-celebrities-bright-launches-dizzying-falls/" target="_blank" rel="noreferrer noopener">celebrity-related tokens</a> or popular events (they are often targets for market manipulation)</li> 
 <li>Do thorough research before making a crypto investment decision</li> 
 <li>Never forget that <strong>crypto assets are extremely volatile</strong> and can lead to significant losses in a short period.</li> 
</ul> 
<p><a href="https://www.cointribune.com/quelles-strategies-pour-le-trading-de-cryptos/" target="_blank" rel="noreferrer noopener">Crypto trading</a> thus offers opportunities, but it also carries major risks. Investors must remain vigilant.</p>

Crypto Loss Record: Here’s How $1 Million Turned Into $9,000 In 1 Hour

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