An anonymous wallet with no prior trading history turned $174,000 worth of ether into $2.45 million in a single day by riding both sides of a sharp ApeCoin swing, according to wallet tracker Lookonchain.
The wallet, identified as 0x0b8a, had never executed a transaction before the trade. It sold ether worth $174,000 on the decentralized exchange Hyperliquid, then opened a 5x leveraged long across 9.19 million APE tokens. ApeCoin surged more than 80% shortly after the position went live, and the trader closed near the top for a $1.79 million profit. The wallet then flipped short as momentum faded and pulled in another $488,000, bringing total gains from the session to $2.27 million, or 14 times the original stake.
Lookonchain published the wallet data on X, where the trade quickly drew attention because it landed just as Yuga Labs disclosed a new chief executive officer, Michael Figge, and named Greg Solano chairman of the board. ApeCoin's jump appears to have been fueled by that announcement, which tied the token back to Yuga Labs, the company behind Bored Ape Yacht Club and the Otherside metaverse project.
The timing leaves an awkward question hanging over an otherwise clean trade. The wallet’s first known transaction came in a market moving on company news, but no formal investigation has been announced, and insider trading rules in crypto markets vary widely by jurisdiction. That means the profit may draw scrutiny even as it sits, for now, in a gray area that can move faster than the rules written to govern it.
For ApeCoin holders, the bigger signal is not the size of one trader’s win but how quickly a corporate reshuffle can ripple through a token linked to one of crypto’s best-known brands. Figge is now in the CEO role, Solano is board chairman, and 0x0b8a has already taken a remarkable round trip through the move.
