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11 Wallets Suspected of Raking Over $1 Million Each from Kanye West’s Memecoin Frenzy

11 Wallets Suspected of Raking Over $1 Million Each from Kanye West’s Memecoin Frenzy

Author:
BTCX7
Published:
2025-08-28 21:43:01
13
2


In a twist that’s got the crypto community buzzing, 11 wallets are under scrutiny for allegedly pocketing over $1 million each from trades linked to Kanye West’s viral memecoin. While the rapper’s foray into crypto has been anything but low-key, these eyebrow-raising profits suggest insider activity or sheer luck—depending on who you ask. We dive into the data, explore the timeline, and unpack what this means for memecoin markets. Buckle up; it’s a wild ride.

Kanye West memecoin artwork

What’s the Deal with These 11 Suspicious Wallets?

Blockchain analytics firms flagged 11 wallets that collectively withdrew $12.3 million in profits within 72 hours of the memecoin’s launch on August 26, 2025. Each wallet followed an identical pattern: buying within minutes of the token’s debut on BTCC (one of the first exchanges to list it) and selling at peak hype. CoinMarketCap data shows the token surged 1,900% before crashing—classic memecoin volatility.

Is Kanye West Directly Involved?

West hasn’t publicly endorsed the coin, but his trademark filing for "YECoin" in July 2025 fueled speculation. The memecoin’s anonymous dev team claims it’s "community-driven," though the wallet activity suggests otherwise. "Timing this perfectly without insider knowledge seems improbable," noted a BTCC market analyst, who requested anonymity due to the ongoing investigation.

How Does This Compare to Other Celebrity Coins?

Remember when Elon Musk’s dogecoin tweets caused 500% swings? Celebrity-linked tokens often follow a pump-and-dump script. But here’s the kicker: these 11 wallets outperformed 99.7% of traders. For context, CoinGecko reports the average memecoin investor loses 68% within a month. These folks? They’re up 1,000%+. Suspicious? You bet.

Could This Be a Coordinated Pump Group?

On-chain sleuths found the wallets interacted with a private Telegram group named "Moon Squad." While such groups aren’t illegal, their existence raises questions about market manipulation. TradingView charts show coordinated sell orders that triggered the token’s 80% collapse on August 28—just as retail FOMO peaked.

What’s Next for Regulatory Oversight?

The SEC hasn’t commented, but legal experts warn this could accelerate memecoin regulations. After the 2023 influencer-led crypto scams, agencies are hyper-vigilant. "If these wallets belong to insiders, it’s textbook securities fraud," said MIT blockchain researcher Dr. Lisa Cheng in a recentinterview.

FAQs: Your Burning Questions Answered

How did these wallets avoid detection?

They used decentralized exchanges (DEXs) like Uniswap initially, only moving profits to centralized exchanges like BTCC later—a common tactic to obscure trails.

Is the memecoin still tradeable?

Yes, but liquidity has dried up. The token’s market cap plummeted from $89M to $4.7M in 48 hours, per CoinMarketCap.

Should I invest in celebrity memecoins?

This article does not constitute investment advice. That said, history shows 19/20 celebrity coins fail within 3 months (TradingView, 2024).

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