A 99% Crash and Rug Pull Accusations: What Happened to Hunter Biden’s Token

• The LAPTOP token, launched by Hunter Biden, saw a sharp spike in its first hours of trading, followed by a drop of nearly 99%.
• According to Bubblemaps, about 80% of traders took losses, including two who lost between $100,000 and $1 million, and around 100 who lost more than $10,000.

The LAPTOP token, launched by former US President Joe Biden’s son — Hunter Biden — saw sharp swings in the first hours after trading began. After a rapid surge, the asset crashed by roughly 98%–99%, leading to significant losses for some traders.

At one point, the asset traded above $200, but within minutes it collapsed, and at the time of writing its price stands at $0.8:

According to Bubblemaps, about 80% of market participants lost money. Two traders posted losses ranging from $100,000 to $1 million, around 100 lost more than $10,000, and another roughly 700 lost more than $1,000. Another approximately 11,000 participants recorded smaller losses.

One of the documented losses was posted by a trader who put about $200,000 into LAPTOP. According to Lookonchain, before the token launch the user withdrew $250,000 from Binance to buy the asset immediately after trading opened. After the sharp price drop, the value of his position shrank to roughly $3,000.

Another trader decided to “buy the dip” after LAPTOP’s crash. He spent $170,000 and bought 28,448.72 tokens at $5.97. Later, the value of that position fell to about $21,000 — another 87%.

At the same time, some participants managed to profit from the extreme volatility. Lookonchain spotted a trader who spent just 900 USDC to buy 2,268.56 LAPTOP at around $0.40. He quickly sold the tokens for 251,270 USDC at an average sale price of about $111, booking more than $250,000 in profit and roughly a 278x return.

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