"Thánh sniper" Hayden Davis earns 12 million USD from Kanye West's memecoin
#Hayden Davis, a notorious player in the crypto world, made headlines by turning 2.8 million USD into 12 million USD in profit in just one minute after rapper
#KANYEWEST 's YZY token launched. This move turned retail investors into "liquidity" for market manipulators.
"Sniping" tactics and insider trading suspicions
According to the analysis firm Bubblemaps, wallets associated with Davis purchased YZY just one minute after the token was announced. Data shows that these wallets had been prepared in advance. Although the YZY team attempted to counter "sniping" by creating decoy tokens, this tactic was completely ineffective against Davis's experience.
Investigators suspect whether
#Davis had insider information, due to the overly meticulous preparation and almost perfect timing of the trades.
Risks for retail investors
Just a few hours after its launch, YZY reached a market cap of 3.2 billion USD before plummeting by more than two-thirds of its value. This caused losses of about 20 million USD for retail investors. Notably, to purchase YZY, users had to sign an agreement not to sue collectively, leaving them with no chance to reclaim their money if they lost everything.
This incident is not the first time Davis has been accused of "sniping". He was previously involved in similar scams with LIBRA and Melania Trump tokens. This highlights the lack of transparency and significant risks for investors in the market
#memecoin . As legal mechanisms lag behind, small players will forever be "liquidity" for manipulators.