US government-linked crypto wallet launches Solana memecoin that collapses

[johnblockbuster]

A cryptocurrency wallet linked by blockchain investigators to allegedly stolen US government crypto launched a Solana-based memecoin called John Daghita (LICK), which lost roughly 97% of its value on its first day. The token briefly reached a $915,000 market capitalization before plunging below $25,000.

Data from Pump.fun shows the deployer made multiple acquisitions while the token’s market cap was still under $21,000. ZachXBT, the blockchain investigator, previously traced wallets tied to tens of millions in crypto believed to be seized by the US government in 2024–2025. The US Marshals Service confirmed an ongoing investigation but declined further comment.

[madmax]

at least blockchain makes it easy to trace this stuff, but also kinda terrifying how fast money can vanish.