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Trader Profits $378,000 from Front-Running Hakimi Purchase on Binance
A trader, identified as a 'news trader', utilized node bribery fees to front-run the purchase of Hakimi tokens immediately following the announcement of the contract going live on Binance. The announcement was made at 13:55:12, and within the first second, the trader paid a bribe of 35.3 BNB, equivalent to approximately $26,800, to the node BNB48 Club.
The trader acquired 9.89 million Hakimi tokens for a total of 264.7 BNB, or about $200,000, at a price of $0.02 per token. Additionally, a Gas fee of 5.5 BNB, roughly $4,200, was paid to facilitate the transaction. This strategic move allowed the trader to secure the tokens before other market participants, leading to a significant price increase as subsequent buyers entered the market.
Ultimately, the trader realized a profit of $378,000 from this operation, highlighting the impact of front-running tactics in the cryptocurrency market.
Source: KLEA News