Blockchain Analyst Alleges $12M YZY Token Sniping Operation by Hayden Davis

Blockchain analytics firm Bubblemaps has accused Hayden Davis, also known as Kelsier, of orchestrating a coordinated sniping operation on Kanye West's YZY token, netting $12 million in profits through 14 interconnected wallets. The report, released on August 25, traces the operation to a cluster of addresses funded from centralized exchanges just one day before YZY's launch.

Davis allegedly executed purchases within minutes of the token's announcement, mirroring his past involvement in high-profile token sniping, including MELANIA and LIBRA. The timing coincides with his recent access to $57.6 million in previously frozen USDC stablecoins tied to the LIBRA token scandal, unfrozen by a US judge on August 20.

While Bubblemaps could not confirm insider information, the firm documented a clear pattern of coordinated buying. Davis has previously denied fraud allegations related to the LIBRA collapse, but the latest findings raise fresh questions about market manipulation in the crypto space.