Hayden Davis, the individual behind the LIBRA meme coin, is reportedly connected to a series of digital wallets that reaped approximately $12 million in profits by trading YZY, a crypto token associated with the artist Ye, previously known as Kanye West.
Blockchain analytics provider Bubblemaps revealed via a post on X that Davis allegedly managed a network comprising 44 wallets which acquired YZY tokens roughly a minute after its official announcement. These wallets invested $2.8 million and subsequently profited $12 million.
The analysis further indicated that a number of these wallets had received fresh deposits from centralized exchanges in the period immediately preceding the unveiling of YZY.
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Prior to Ye’s team confirming the official contract address, YZY had been present on the blockchain for a couple of days. The project implemented a strategy involving 25 distinct contracts, randomly selecting one as the valid version, ostensibly to prevent rapid accumulation of the token.
Despite this, the wallets linked to Davis acted quickly, making their purchases within about a minute of the contract reveal, rather than at the original contract creation.
In total, an investment of roughly $2.8 million in YZY resulted in gains totaling approximately $12 million. Bubblemaps highlighted that the promptness of these purchases, combined with the prior funding of the wallets, hints at advance preparation by the group involved.
Adding to the scrutiny, YZY’s launch occurred shortly after a judge in Manhattan released $57.6 million in USDC
Thirteen traders recently experienced significant gains from the launch of YZY. To find out the exact figures, access the complete story.