According to Lookonchain, a crypto trader lost 2,540 SOL, equivalent to $436,000, during a sniping attempt involving the token $PAIN. The trader initially spent 15,000 SOL, valued at $2.58 million, to acquire 107,212 $PAIN tokens. However, after paying a fee of 2,501 SOL ($430,000) and selling the $PAIN tokens for 14,961 SOL ($2.57 million), the trader ended up with a net loss. This case highlights the potential financial risks associated with sniping strategies in cryptocurrency trading. (Source: Lookonchain via Twitter)