Blockchain Bots Profit From JESSE Token Launch: $1.3 Million in Profits

Jesse Pollak’s new cryptocurrency token, JESSE, saw a rapid price decline following its launch due to opportunistic automated bot activity. Blockchain snipers capitalized on the launch by acquiring over 50% of the supply using bots and artificially boosted transaction fees, resulting in profits exceeding $1.3 million. The incident highlights vulnerabilities in token distribution and the potential for misuse of automated bots on decentralized platforms.