The post Solana Treasury Firm Blames Sniper for Suspicious Meme Coin Trades appeared on BitcoinEthereumNews.com.

In brief DeFi Development Corp. launched an experimental meme coin on Thursday on the Solana blockchain. An early buyer, identified by the firm as an “early sniper,” bought $4,000 of the token before the public announcement. It was soon worth $1 million. The firm said it was able to retrieve the sniper’s outstanding token balance, as well as the proceeds earned from selling the token. Publicly traded Solana treasury firm DeFi Development Corp. (DFDV) launched its own meme coin on Thursday—and soon became the subject of insider trading allegations on social media.  A trader, identified by the firm as an “early sniper”—or someone who systematically purchases newly launched tokens—bought $4,000 of the firm’s DisclaimerCoin (DONT) meme coin prior to the firm’s public launch announcement. That stash was quickly worth over $1 million after DeFi Development Corp. started promoting the token rollout and the price of DONT surged. The trader in question, using a Solana address ending in “8FziB,” began purchasing the DONT meme coin around 7:39 a.m. ET on Thursday, about 25 minutes after it was created on token launchpad Bonk.fun, according to blockchain data from Solana block explorer Solscan. The account ultimately purchased around 29 billion DONT tokens across multiple transactions, spending just over $4,000 and ending up with nearly 7% of the total supply of 420 billion tokens by 8:39 a.m. ET.  The trader started purchasing tokens at miniscule market caps nearly an hour before the Solana firm—which holds more than 2.2 million SOL, or around $283 million worth—publicly announced that it had launched the DONT meme coin, around 8:30 a.m. ET. The firm’s press release published to GlobeNewswire was timestamped at 8:30 a.m. ET, and emails about the release were received by Decrypt at 8:39 a.m. ET. DeFi Development Corp. announced the token launch to its 15,900…

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Filed under: News - @ January 22, 2026 11:27 pm