Hacking News
MAX Coin Fails After Musk Unfollows Suspected Son’s Account
MAX, a Solana-based meme coin, fell 86.4% from its peak after Elon Musk unfollowed an X account suspected of belonging to his son, Saxon. The account was associated with the launch of MAX, whose market capitalization briefly exceeded $13 million. However, the account’s identity and connection to Saxon remain unverified. Musk followed the account ChainChomp131, which had approximately 5,000 followers and was suspected of belonging to Saxon. The account’s connection to Saxon remains unverified. Although the timing of Musk’s unfollow coincided with the token’s sharp decline, the available information does not establish that the unfollow directly caused the price drop. The wallet 9BMzT…FQdLU made 53 purchases totaling 9.4 million MAX, spending approximately $72,800 without recording any sales, leaving it with a substantial unrealized loss of approximately $53,900.