Blockchain analysts have uncovered that Hayden Davis, also known in the crypto space as Kelsier, secured an estimated $12 million profit by sniping Kanye West’s newly launched YZY token.
The move involved a set of 14 wallets that coordinated rapid buy-ins immediately after YZY went live. On-chain data shows the wallets were closely connected through shared funding sources and transaction patterns, ultimately tracing back to Davis.
This isn’t the first time Davis has been linked to such maneuvers. The same wallets reportedly participated in last year’s controversial LIBRA token incident, where coordinated trades yielded tens of millions in profit. Combined, Davis and the network of wallets have now generated more than $23 million across both events.
The revelation has sparked frustration in the crypto community, where many view these tactics as undermining fairness in already volatile memecoin markets. While technically legal under current rules, critics argue that such practices resemble insider trading and erode trust in token launches.
For now, Davis has not issued any public response. However, the incident has reignited calls for tighter oversight of token launches and stricter mechanisms to prevent coordinated wallet sniping.
