Hayden Davis, recognized for creating the LIBRA meme coin, has been tied to wallets that earned about $12 million buying and selling YZY, a token linked to Ye, previously often called Kanye West.
Bubblemaps, a blockchain analytics firm, said in a publish on X that Davis managed a community of 44 wallets that purchased YZY round one minute after the official announcement. These wallets invested $2.8 million and later gained $12 million.
The agency famous that a number of of the wallets acquired new deposits from centralized exchanges the day earlier than YZY was revealed.
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YZY was already on-chain for 2 days earlier than Ye’s workforce confirmed which contract was the official one. To forestall immediate accumulation, the undertaking deployed 25 completely different contracts and randomly selected one to be the legitimate model.
Nonetheless, Davis-linked wallets moved in about sixty seconds after the reveal, not on the preliminary contract launch.
In whole, round $2.8 million was deployed into YZY, which later generated income of about $12 million. Bubblemaps identified that each the pace of the buys and the prior funding of the wallets counsel the group was ready prematurely.
The timing raised additional questions as a result of YZY’s launch adopted after a Manhattan decide unfroze $57.6 million in USDC
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tied to Davis and Ben Chow, founding father of the decentralized change Meteora. Whereas these balances stay untouched, the place $13.06 million and $44.59 million nonetheless sit within the two massive wallets, the overlap with YZY’s launch was sufficient to attract suspicion.
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