PANews, August 21: According to Lookonchain, Kanye West (@kanyewest) launched the $YZY token, injecting only $YZY into the liquidity pool, with no $USDC. Developers can sell tokens by adjusting liquidity, similar to $LIBRA. Multiple internal wallets prepared funds in advance and quickly bought $YZY, with wallet 6MNWV8 having prior knowledge of the contract address, spending 450,611 USDC to buy 1.29 million $YZY at $0.35, later selling 1.04 million $YZY for $1.39 million, leaving 249,900 $YZY (approximately $600,000), making a profit of over $1.5 million.
Additionally, an investor suspected of having insider information about Kanye West's token issuance lost $710,000 by buying the wrong $YZY. About 40 minutes ago, this investor again bought the legitimate $YZY for $761,000 and has currently made a profit of over $710,000, recovering from the previous loss.