$PENSION Meme Coin Collapse Exposes Coordinated Sniping Effort
A mysterious crypto account called @pensionusdt gained a reputation as one of the most successful traders in the space, boasting a $49 million win streak on Hyperliquid and claiming to have survived a massive liquidation on an ETH short. The account had 22,000 followers and its posts regularly garnered thousands of views.
On June 27, pensionusdt launched a new token called $PENSION, telling its audience that it held 30% of the supply personally and wouldn't sell. However, just a day later, $PENSIon was down 98%, according to an on-chain investigation by Bubblemaps.
The investigation found that four wallets sniped 60% of the total $PENSION supply in the first minute after launch, selling immediately for around $15,000 each. This was followed by 80 additional wallets piling in and sniping the token as well. The snipers collectively walked away with approximately $140,000.
This coordinated effort suggests that the timing mechanism itself was engineered to execute the moment the token went live, rather than being a lucky bot catching a launch.