{"id":15249,"date":"2025-08-21T16:05:48","date_gmt":"2025-08-21T14:05:48","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=15249"},"modified":"2025-08-21T16:05:48","modified_gmt":"2025-08-21T14:05:48","slug":"yzy-sniper-wallet-linked-to-libra-extraction-23-million-withdrawn","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/08\/21\/yzy-sniper-wallet-linked-to-libra-extraction-23-million-withdrawn\/","title":{"rendered":"YZY Sniper Wallet Linked to LIBRA Extraction, $23 Million Withdrawn"},"content":{"rendered":"

“`html
\n<\/p>\n

\n

An onchain analysis conducted by the pseudonymous investigator Dethective connected a wallet that acquired the Kanye West-themed token YZY to another group of wallets associated with the LIBRA token, indicating that the same operator reaped tens of millions of dollars via privileged information.<\/p>\n

Through a sequence of X posts<\/a> on Thursday, Dethective disclosed that a YZY acquisition wallet was able to purchase $250,000 worth of tokens at merely $0.20, significantly lower than the price most investors paid. Within moments, the wallet amassed over $1 million in gains, which was subsequently redirected to a treasury wallet.<\/p>\n

The same treasury wallet also obtained substantial amounts from wallets linked to LIBRA\u2019s introduction six months prior<\/a>. Two \u201cLibra acquisition\u201d wallets withdrew a total of $21 million. Altogether, approximately $23 million was taken across the YZY and LIBRA launches, with assets later transferred to Kamino or Binance.<\/p>\n

\u201cWe can be certain this is an individual with clear insider knowledge,\u201d Dethective remarked. \u201cThe evidence is that they did not target any coin other than $YZY and $LIBRA and came prepared with considerable size,\u201d they added.<\/p>\n

Sleuth connects YZY acquisition wallet to Libra. Source: <\/em>Dethective<\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>LIBRA token creator contests class action suit, citing lack of jurisdiction<\/strong><\/em><\/a><\/p>\n

Nansen, Cyvers verify connection<\/h2>\n

Onchain analytical platform Nansen and blockchain security company Cyvers also validated the link between the YZY acquisition wallet and the wallets connected to the LIBRA extraction network.<\/p>\n

\u201cThe YZY launch acquisition wallet does intersect with the LIBRA extraction flow wallets,\u201d Cyvers informed Cointelegraph. \u201cThis suggests the same entity (or a closely coordinated group) was involved in both occurrences,\u201d they added.<\/p>\n

Meanwhile, Nansen mentioned that they cannot definitively state that it is associated with Hayden Davis, the controversial figure behind the LIBRA token. \u201cIt’s also perpetually debatable what the insider information is and if it truly constitutes insider trading.\u201d<\/p>\n

Nansen further noted that infamous sniper Naseem, who earned millions on the Official Trump (TRUMP) memecoin, was also among the earliest buyers of YZY using a wallet previously financed with TRUMP profits. While Naseem asserted that the advantage arose from detecting the liquidity pool early, questions linger over whether this is merely astute trading or part of a larger trend in the ongoing \u201ccrime season.\u201d<\/p>\n

Related: <\/strong><\/em>Judge unfreezes $57M in stablecoins tied to Libra token scandal<\/strong><\/em><\/a><\/p>\n

Kanye West\u2019s YZY token skyrockets to $3 billion<\/h2>\n

On Thursday, Ye unveiled his YZY token on Solana<\/a>, which surged to a $3 billion market capitalization within 40 minutes before plummeting to roughly $1.05 billion.<\/p>\n

At the time of writing, YZY was trading at about $1, down over 60% from the previous day. The token reached an all-time high of $3.16 approximately 11 hours earlier, according to data from CoinMarketCap.<\/p>\n

\"\"
Ye announces YZY token. Source:\u00a0<\/em>Kanye West<\/em><\/a><\/figcaption><\/figure>\n

West proclaimed the token on X, referring to it as part of \u201cA NEW ECONOMY, BUILT ON CHAIN,\u201d with YZY intended to facilitate transactions within his envisioned \u201cYZY MONEY\u201d system.<\/p>\n

Magazine:\u00a0<\/strong><\/em>Bitcoin\u2019s long-term security budget dilemma: Imminent crisis or FUD?<\/strong><\/em><\/a><\/p>\n