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YZY Token Launch Sees 51K Traders Lose $75M While Insiders Profit
YZY Token Launch Sees 51K Traders Lose $75M While Insiders Profit
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BTCCSquare news:
Nearly three-quarters of YZY traders faced losses totaling $74.8 million, while a select few wallets reaped millions in profits, according to blockchain analytics firm Bubblemaps. Out of 70,201 wallets that traded the token, 51,862 ended up in the red—with losses ranging from $1 to over $1 million per wallet.
Just 11 wallets captured 30% of all profits, netting seven-figure gains. The token's price collapsed 70% within hours of launch, with investigators alleging market manipulation by sniping bots and well-positioned insiders.
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