Blockchain analytics firm Bubblemaps revealed that 73.8% of traders who bought into Kanye West's Solana-based memecoin YZY suffered collective losses of $74.8 million. Of the 70,201 wallets that traded YZY, 51,862 recorded losses, including 105 traders who lost between $100,000 and $1 million each. In stark contrast, only 18,333 wallets profited, with gains heavily concentrated: 11 wallets captured nearly 30% of total profits ($66.6 million across all winning wallets), while 88 traders earned between $100,000-$1 million each.
The token, launched on August 21, 2025, reached a $3 billion market cap before crashing 90% within hours. Bubblemaps identified manipulation tactics including sniping by bots immediately after launch. One wallet linked to trader "Naseem" (previously associated with Trump's DJT memecoin) was flagged as YZY's first investor, while Hayden Davis allegedly earned $12 million from sniping. Bubblemaps criticized the industry's failure to prevent recurring scams, noting: "The playbook is simple: Infiltrate big launches, get in early, and extract millions."
Kanye West later denied involvement, claiming his Instagram was hacked to promote the token. Structural issues exacerbated losses: 94% of the initial supply was insider-controlled, and trading fees reached 2.68% combined with slippage, creating ~10% round-trip costs for traders.