Social media platform X has launched legal proceedings against banned users who attempted to bribe employees to regain access, revealing that crypto scammers were central to a bribery network linked to wider criminal organizations. The company, cooperating with law enforcement, underscores a persistent security challenge that echoes past breaches involving high-profile account takeovers and cryptocurrency fraud.
about X Sues Banned Crypto Scammers Over Employee Bribery SchemeKanye West
0 posts last weekKanye West’s Instagram Hacked to Promote Fake YZY Token
Kanye West reported his Instagram account was hacked to promote an unauthorized YZY token, which briefly reached a $7 million market cap before collapsing to around $160,000. The incident occurred as West’s legitimate YZY token continues to struggle, down 81% from its all-time high with a current market cap of approximately $73.5 million. The hack involved West’s account following a fake token profile that shared a contract address and QR code, misleading followers. Despite the controversy, insiders and early investors profited significantly from the official token launch, with one individual reportedly making $12 million in profits. The fake token profile was eventually unfollowed by West’s account later in the day.
about Kanye West's Instagram Hacked to Promote Fake YZY TokenHayden Davis Accused of $12M YZY Token Snipe Operation
Bubblemaps’ investigation alleges Hayden Davis (aka Kelsier) executed a coordinated sniping operation on Kanye West’s YZY token just minutes after its launch, using 14 interconnected wallets that purchased tokens beginning at 1:54 AM UTC. The operation generated approximately $12 million in profits through precisely timed transactions funded from centralized exchanges. This occurred just days after a US judge unfroze $57.6 million in USDC stablecoins tied to Davis’s previous LIBRA token scandal. The YZY token experienced extreme volatility, reaching nearly $3 billion market capitalization before collapsing over 90% within hours, with independent analysis suggesting 94% of initial supply was controlled by insiders. While Bubblemaps couldn’t confirm insider information, they documented clear coordination patterns resembling Davis’s previous involvement in MELANIA and LIBRA token launches.
about Hayden Davis Accused of $12M YZY Token Snipe OperationMyriad Prediction Markets: YZY, Satoshi, ETH Trends
Myriad’s prediction markets, operated by Decrypt’s parent company DASTAN, show traders are pessimistic about Kanye West’s YZY token reaching a $1.5 billion market cap by month-end, with 87% betting against it. Similarly, only 10% believe Satoshi Nakamoto’s Bitcoin holdings will exceed $150 billion by September’s end, requiring a 20% BTC price surge. Ethereum markets show more balanced sentiment, with 53% odds favoring a climb to $5,000 over a drop to $3,500, though this represents a significant decline from 86% bullishness last week. All markets are influenced by upcoming Fed Chair Powell’s speech, with traders using USDC to bet across crypto, pop culture, and politics scenarios.
about Myriad Prediction Markets: YZY, Satoshi, ETH TrendsOnchain Sleuth Links $23M Insider Gains to YZY, LIBRA Launches
An onchain investigation by analyst Dethective has exposed a sophisticated operation extracting approximately $23 million from the YZY and LIBRA token launches through suspected insider trading. The analysis reveals that a YZY sniper wallet purchased $250,000 worth of tokens at $0.20—far below market price—securing over $1 million in profit within minutes. The same treasury wallet received funds from LIBRA sniper wallets that extracted $21 million six months prior, indicating coordinated activity across both launches. Funds were subsequently moved to Kamino and Binance, suggesting attempts to obscure the money trail. This case highlights ongoing vulnerabilities in token launch mechanisms and the growing sophistication of onchain forensic analysis in uncovering market manipulation.
about Onchain Sleuth Links $23M Insider Gains to YZY, LIBRA LaunchesKanye West Launches YZY Meme Coin on Solana, Hits $3B Before Crash
Kanye West (Ye) has entered the crypto space with the launch of YZY, a Solana-based meme coin that surged to a $3 billion market cap within hours before plummeting over 66%. The token’s debut raised red flags, with data suggesting 90% of the supply is held by just six wallets, and blockchain trackers noting suspicious liquidity pool setups reminiscent of past rug pulls. An insider reportedly turned $450,000 into $3.37 million in hours, highlighting privileged access. Despite the controversy, YZY was quickly listed on exchanges like Bitget, and Ye introduced Ye Pay and YZY Card for crypto payments. The token’s supply allocates 70% to Yeezy Investments LLC, 20% to public buyers, and 10% to liquidity, with vesting managed by Jupiter Lock contracts. Market performance has been volatile, with YZY dropping over 54% in 24 hours and its market cap falling to around $349 million. Traders have seen mixed results, with one gaining $202,000 by shorting and another losing $159,000 on long positions.
about Kanye West Launches YZY Meme Coin on Solana, Hits $3B Before CrashParaguay Denies Bitcoin Reserve Announcement as Hack
The Paraguayan government quickly refuted a tweet from President Santiago Peña’s X account announcing Bitcoin as legal tender and a $5 million reserve, labeling it a hack. The post included a Bitcoin address, likely part of a scam to lure investors. This incident follows a pattern of high-profile account hacks promoting crypto scams, including past breaches involving Indian Supreme Court’s YouTube and X accounts of celebrities like Elon Musk. While Paraguay is Bitcoin-friendly with crypto mining operations, only El Salvador in the region has adopted Bitcoin as legal tender, despite IMF objections.
about Paraguay Denies Bitcoin Reserve Announcement as HackKanye West Denies Selling X Account Amid Barkmeta Crypto Scam Allegations
Kanye West, also known as Ye, is rumored to have sold his X account to Barkmeta for $17 million, raising concerns due to Barkmeta’s history of crypto scams. Despite Ye’s denial of any ties to Barkmeta, suspicious activity surrounding the promotion of a meme coin linked to him has emerged, with analysts warning of potential rug pulls. Barkmeta’s involvement has intensified scrutiny, especially following the rapid collapse of a previous coin associated with Ye.
about Kanye West Denies Selling X Account Amid Barkmeta Crypto Scam AllegationsKanye West Denies YZY Tokens and Plans Own Cryptocurrency Launch
Kanye West, now known as Ye, has denied any affiliation with the circulating YZY tokens, labeling them as fake. He announced plans to launch his own cryptocurrency next week, which may be linked to his Yeezy brand, despite ongoing skepticism in the crypto community regarding celebrity-backed tokens. Speculation about his token’s launch has led to significant betting activity, with a 71% probability that it will debut by the end of February.
about Kanye West Denies YZY Tokens and Plans Own Cryptocurrency LaunchBybit Hacker Surpasses Vitalik Buterin in Ethereum Holdings
The Lazarus Group, a North Korean state-backed hacker, has stolen over $1.4 billion in Ethereum from Bybit, amassing 437,700 ETH, surpassing holdings of Ethereum’s co-founder Vitalik Buterin and the Ethereum Foundation. This breach has raised concerns in the cryptocurrency market, prompting Bybit to secure its reserves and launch a recovery bounty program for the stolen assets. As Ethereum trades at $2,720.97, the incident echoes fears of a market meltdown similar to the FTX collapse in 2022.
about Bybit Hacker Surpasses Vitalik Buterin in Ethereum HoldingsCardano Founder Denies Kanye West Cryptocurrency Project Rumors
Charles Hoskinson, founder of Cardano, has dismissed rumors linking Kanye West, now known as Ye, to a potential token launch on the Cardano blockchain. In a video, he stated, “Kanye West is not going to launch something on Cardano,” emphasizing that the platform is not a venue for such projects and highlighting the drama surrounding Ye’s recent activities, including the alleged sale of his Twitter account for $17 million to a memecoin group. Hoskinson reaffirmed Cardano’s commitment to being a serious project, distancing it from Ye’s controversial reputation.
about Cardano Founder Denies Kanye West Cryptocurrency Project RumorsSolana Faces Market Struggles Amid Memecoin Manipulation Scandal
The crypto market is struggling to distinguish Solana from manipulated memecoins following the LIBRA debacle, which led to an 18% drop in SOL’s value. Despite some recovery, SOL’s market cap now stands at $83.4 billion, significantly lower than before, as the market groups it with the memecoin complex. Meanwhile, Jupiter, linked to both LIBRA and Solana, has also seen a 24% decline, raising questions about potential insider trading despite the team’s denial.
about Solana Faces Market Struggles Amid Memecoin Manipulation Scandal