Cyberleek may have just cashed out on their GTA 6 leak, earning over $200,000 in the most predictable crypto rugpull ever performed
Overview & Key Takeaways
Nobody could have foreseen this.
Well, I think we all knew we'd end up here eventually, right?
It seems that Cyberleek, perpetrator of the last week's GTA 6 leaks and perhaps the world's least-convincing self-appointed champion of consumer rights, may not have ultimately been encouraging the use of their $CYBERLEEK cryptocurrency for benevolent purposes: As of this morning, it seems the leaker has cashed out on their scheme to the tune of over $200,000 in a rug pull that just about everyone saw coming.
Since their first leaked GTA 6 gameplay video, Cyberleek used the uploaded illicit footage as a platform for users to buy and trade $CYBERLEEK, a token minted on the Solana blockchain. Eventually, Cyberleek allowed viewers to use the cryptocurrency to vote on the subject of their next leak video.
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By doing so, Cyberleek claimed viewers would be supporting "a secret project" to fight for a generic slate of vaguely consumerist talking points, and that the funding would be "directed toward the infrastructure needed to strike, as well as the security and protection required to withstand the inevitable corporate counterattacks."
If that doesn't pass the smell test to you, you aren't alone: As their leaks continued and Take-Two's legal manhunt intensified, Cyberleek's pleas for support became increasingly desperate—and increasingly corny, as public sentiment steadily soured on their compulsive crypto hucksterism.
That skepticism was apparently well-placed, because it looks like Cyberleek finally cashed out on their scheme early this morning. As spotted by user Vice Cit on Gtaforums.com, a series of transactions occurred starting today at roughly 3:27 AM EDT, resulting in one $CYBERLEEK trader earning an estimated $270,000—and tanking the token's value for everyone else.
To understand what exactly happened here, let me offer some context about the token itself. It was minted by a walletholder on the Solana blockchain 12 days ago, and after its minting, the walletholder—presumably Cyberleek themself—placed the initial supply of the token along with an amount of an another cryptocurrency into what's called a "liquidity pool" on the Raydium platform, making that walletholder a "liquidity provider," or LP.
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When currencies are traded through a Raydium liquidity pool, transaction fees are charged which are then split between its LPs. Which means that, by encouraging viewers to buy and trade tokens from that liquidity pool, Cyberleek was generating profits for its LPs.
Unsurprisingly, it was the same walletholder that initially minted the $CYBERLEEK token that initiated a fee collection transaction from the Raydium liquidity pool early this morning, receiving over $200,000 of $CYBERLEEK that they had accrued in transaction fees. That walletholder then immediately cashed out all that $CYBERLEEK for alternative currencies, which were quickly squirrelled away into a handful of different wallets.
In the aftermath, the value of $CYBERLEEK has plunged by roughly 40% for anyone who made the questionable choice to acquire any. But that's not Cyberleek's problem anymore. They're sitting on a nice new chunk of change—which they'll presumably need for their eventual legal fees.
For the rest of us, let this be a valuable lesson: Don't listen when a weird onion on the internet says to buy his special secret money. Not again, anyway.
