Prominent KOL Foolish Dragon King Responds to Pump-and-Dump of SAT1: Will Sell Holdings to Compensate Loss for Users and Exit Web
BlockBeats News, May 9th: Prominent KOL Hanba Longwang responded to the "sat1 Pump and Dump Incident" in a post on X, stating:
- He only participated as a trader and has no affiliation with the sat1 token project itself;
- The pump and dump of sat1 was only announced within the group, and other groups amplified the pump and dump through forwarding to increase its impact, with the hope of creating liquidity;
- The reason for the pump and dump was to make sat1 surpass sato for shared profits, but underestimated the intensity of the primary market's Price Volatility Protection (PVP) and failed to form a united front;
- His current position is approximately at break-even, with a cost of 565 ETH and a current value of 543 ETH.
Regarding the pump and dump incident:
- He will immediately sell all sat1 holdings, compensate the loss-making users with the obtained ETH, no longer self-evaluate profit or loss, and will leave the network after the incident is resolved.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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