Blockchain investigators issued a Solana-based meme coin in a cryptocurrency wallet linked to the alleged theft of U.S. government-controlled crypto assets, which subsequently collapsed, renewing scrutiny of meme coin issuance practices and the risks of on-chain token distribution.
The token, called John Daghita (LICK), was created on the Pump.fun launchpad and lost approximately 97% of its value on its first day of trading, according to on-chain data. The token’s market cap briefly reached around $915,000, but has fallen below $25,000 at the time of writing.
Ahead of the rally, the token deployer address made four acquisitions, but the coin was still trading below its $21,000 market cap, according to Pump.fun data.
Blockchain investigator Zack
On Wednesday, a spokesperson for the U.S. Marshals Service confirmed to Cointelegraph that the matter is under investigation, but declined to provide further details.
ZachXBT claimed that D’Aguita, the son of Command Services and Support (CMDSS) President Dean D’Aguita, may have gained unauthorized access to wallets controlled by the U.S. government.
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Related: Bubble Map disputes PEPE’s fair launch, claims 30% of Genesis supply is bundled
40% of LICK tokens bundled at launch: Bubblemaps
According to blockchain data visualization platform Bubble Map, LICK adopters held 40% of the total supply at launch, and this level of concentration is often seen as a red flag in early-stage token launches.
“John D’Aguita (@lick), who stole $40 million from the US government, just launched $LICK on pumpfun and is live streaming it on Telegram. He controls 40% of the supply,” Bubble Map claimed.
Concentration of supply in a few companies is often an early sign of organized sniping or poaching, with insiders stripping liquidity or selling in large quantities, leading to a token crash.
In one of the most damaging crashes of 2025, the Wolf of Wall Street-inspired (WOLF) token plummeted 99% within hours, wiping out around $42 million in market capitalization on March 16th.
The token was launched by official MELANIA and Libra token co-creator Hayden Davis, who held 80% of the Genesis supply of WOLF tokens at launch.
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