On-chain detective Bubblemaps revealed that Hayden Davis, a core figure of the previously controversial LIBRA token, made a direct profit of 12 million dollars by targeting a new coin called YZY during its launch. This operation is quite slick, essentially exploiting information asymmetry and capital advantages, quickly entering and exiting the liquidity pool as the project just launched, essentially cutting the retail investors who chased the highs.

This incident once again validates a harsh truth in the crypto world: many new projects are, from their inception, a meticulously planned "hunt." Especially projects that are highly similar to LIBRA, it's clear that they are just rebranded attempts to do it all over again. When retail investors' FOMO kicks in, they become the main course at someone else's lavish banquet.

Ironically, just after CZ clarified that He Yi has no relation to YZi Labs, former LIBRA members were revealed to be cashing in on YZY. The network of relationships in this circle is truly complicated and tangled. From now on, when you see these new dog projects with explosive launches, really be cautious and don’t always think about getting rich overnight; otherwise, you can easily become someone else's liquidity.