Bubblemaps said it identified a large wallet cluster that accumulated 90% of the Mystery token’s supply at launch, raising concerns around the token’s distribution.
Blockchain analytics platform Bubblemaps said 90 newly funded wallets bought 90% of Mystery (MYSTERY) memecoin supply at launch, raising concerns about coordinated sniping.
The wallets were all funded by wallet “0x544E,” which previously withdrew and distributed 20 Ether from crypto exchange Binance. After buying up 90% of the supply at launch, the wallet cluster sold about $100,000 worth of tokens and still holds 40% of the supply, said Bubblemaps in a Tuesday X post. The analytics company described the pattern as a “textbook scam.”
Sniping refers to using bots or automated trading tools to buy newly launched tokens immediately after trading opens, often before ordinary traders can react. The findings highlight how automated buying and coordinated wallet clusters can dominate thinly traded memecoin launches, leaving later buyers exposed to sharp losses if early holders sell.
