"Sniper Saint" Hayden Davis makes $12 million from Kanye West's memecoin

#Hayden Davis, a notorious player in the crypto world, caused a stir by turning $2.8 million into $12 million profit in just one minute after rapper #KANYEWEST 's YZY token launched. This move turned retail investors into "liquidity" for market manipulators.

"Sniping" tactics and insider trading suspicions

According to analytics firm Bubblemaps, wallets associated with Davis purchased YZY just one minute after the token was announced. Data shows these wallets were prepared in advance. Although the YZY team attempted to counter "sniping" by creating bait tokens, this tactic was completely ineffective against Davis's experience. Investigators suspect whether #Davis had insider information due to the overly meticulous preparation and almost perfect timing of the trades.

Risks for retail investors

Just hours after launch, YZY reached a market cap of $3.2 billion before plummeting by more than two-thirds in value. This caused around $20 million in losses for retail investors. Notably, to purchase YZY, users had to sign a commitment not to file a class-action lawsuit, leaving them with no chance to reclaim their money if they lost everything.

This is not the first time Davis has been accused of "sniping". He has been involved in similar scams with LIBRA and Melania Trump tokens. This highlights the lack of transparency and significant risks for investors in the market #memecoin . With legal mechanisms lagging behind, small players will forever remain "liquidity" for manipulators.