2
A cryptocurrency wallet linked by blockchain investigators to an alleged theft of US government-controlled crypto holdings launched a Solana-based memecoin that later collapsed, renewing scrutiny of memecoin launch practices and onchain token distribution risks.
The token, called John Daghita (LICK), was created on the Pump.fun launchpad and lost about 97% of its value within its first day of trading, according to onchain data. The token briefly reached a market capitalization of about $915,000 before…
