Bubblemaps Flags Mystery Over 90-Wallet Launch Sniping Cluster

Blockchain analytics platform Bubblemaps has raised concerns about the launch of the Mystery (MYSTERY) memecoin, identifying a cluster of 90 newly funded wallets that collectively acquired 90% of the token's supply at launch. These wallets were all funded by a single source, wallet "0x544E," which had previously withdrawn 2 Ether from Binance. After this coordinated purchase, the cluster sold approximately $100,000 worth of tokens and still retains 40% of the supply. Bubblemaps described this activity as a "textbook scam" and highlighted how such automated buying and coordinated wallet clusters can dominate thinly traded memecoin launches, potentially leading to significant losses for later investors. The Mystery token has seen a substantial price drop, falling 75% from its peak market capitalization. The project, which brands itself as a frog character from "The Night Riders," claims to have acquired intellectual property rights. This incident is reminiscent of other instances of sniping activity in the memecoin space, where bots and coordinated groups exploit new token launches.

(Source：Cointelegraph)