Hunter Biden publicly demanded that the market maker behind the LAPTOP memecoin buy back and burn the entire token supply after a forensic audit revealed severe liquidity missteps during its decentralized debut on Base.
According to the Groom Lake report cited by Biden in an October 7, 2026 thread on X, a wallet identified as “Market Maker 1” received $500,000 before the token launch but deployed only about $5,200 into initial liquidity positions. The primary liquidity pool held fewer than 30,000 LAPTOP tokens, roughly 0.003% of the 1-billion-token supply. This thin depth caused extreme volatility: a buy order of just $6 moved the price by 5%, and DexScreener data showed LAPTOP surge from $0.05 to $320 in under two minutes before crashing 98% within an hour.
The report also stated that trades tied to a second market maker generated about $2.18 million in net USDC proceeds, while the first wallet netted nearly $686,000 in profits, partly tied to loan obligations. Biden said the main beneficiaries were the liquidity providers and insisted they must remove circulating tokens from the market.
An on-chain check of the founder wallet linked in Biden’s thread shows 300 million LAPTOP tokens, or 30% of supply, held in a SafeProxy contract on Base. BaseScan records two incoming LAPTOP transfers and no outgoing transfers. However, the explorer page does not show the Safe’s owners, whether tokens are locked, or any vesting terms. Biden claimed founder coins are locked for six months and then vest over two years, but that schedule is not visible in the linked on-chain record.
The project previously blamed the launch failure on sniper bots, while Biden accepted ultimate responsibility for operational mistakes. The next public test will be a promised burn of unclaimed airdrop tokens, which should leave a verifiable transaction trail.
