Kanye’s Coin Scandal: $12M in Alleged Sniping Profits

Onchain analytics platform Bubblemaps has published a detailed investigation suggesting that crypto figure Hayden Davis (also known as Kelsier) may have been behind a coordinated snipe of the newly launched $YZY token, allegedly generating $12 million in profits in this Kanye coin scandal.

Bubblemaps’ findings on Kanye’s coin

In a thread shared on X, Bubblemaps outlined how a cluster of wallets tied to Davis became active immediately before the $YZY launch. The firm claims the addresses were funded from centralized exchanges the day prior, then funneled through CCTP transfers and other shared deposits that ultimately link back to Davis.

According to Bubblemaps’ visualizations, 14 wallets sniped $YZY within one minute of its launch announcement. Collectively, these wallets realized $12 million in profits.

Bubblemaps stressed it cannot confirm whether Davis had insider information or a direct connection to the YZY team, but said the onchain evidence strongly indicates preparation ahead of the launch.

Unfrozen funds raise questions around Hayden Davis

The report also highlights the timing of events. Just a day before $YZY went live, a U.S. judge unfroze $57 million in USDC tied to Davis from the collapsed LIBRA project. Bubblemaps described the coincidence as suspicious, alleging that the newly unlocked funds could have been used to fuel the $YZY trades.

Not Davis’ first rodeo

This is not the first time Bubblemaps has tied Davis to controversial launches. The analytics firm has previously linked him to MELANIA and LIBRA, two short-lived tokens that collapsed after initial hype. In its latest report, Bubblemaps concluded that Davis’ alleged involvement in $YZY fits the same pattern: rapid funding, aggressive sniping, and outsized profits. For now, Davis has not publicly responded to the allegations, and the $YZY team has remained silent.