Warning: A Well-Known Name Previously Thought to Be a Fraudster May Be Linked to a New Altcoin

Bubblemaps brought up the claim that Hayden Davis, known as the name behind the LIBRA altcoin project, made purchases using multiple addresses during the YZY altcoin launch and made a profit of approximately $12 million.

According to onchain analysis, many addresses received funds from centralized exchanges the day before the launch, and these addresses were linked to Davis through financing transactions, CCTP transfers, and common deposit behavior.

The following details were included in the statement made by Bubblemaps:

Our suspicion began with the timing of the YZY launch. Hayden Davis's $57 million fund was unfrozen, and YZY launched the next day.

“We noticed several addresses were being funded on centralized exchanges the day before launch. By following the trail, we found a cluster primed to snip YZY (buy it immediately upon launch). These addresses are linked to Hayden Davis through funding transactions, CCTP transfers, and joint deposits.”

The company stated that it could not confirm whether Hayden Davis had any direct relationship with the YZY team or insider knowledge. However, the findings suggest that these 14 addresses generated a combined $12 million in profits and made purchases just one minute after the announcement.

Bubblemaps noted that Davis had previously carried out similar sniping operations on MELANIA, LIBRA and other projects, adding that this was not the first such incident.