Snipers exploit Base developer's new token launch for quick profit

A new creator token launched on the Zora platform by Jesse Pollak, a developer for Coinbase's Layer 1 chain Base, was immediately targeted by snipers, DL News reported. The snipers used private channels to bypass the public queue, paying high transaction fees to acquire more than half of the 500 million Jesse tokens and securing significant profits within minutes. Pollak stated on Thursday that he launched the token to help counter the negative perception surrounding creator coins, which are tied to the personal brands of crypto personalities. Trading volume for the Jesse token has since surpassed $25 million.