According to CoinWorld, based on monitoring by Bubblemaps, suspicious liquidity provider (LP) activity has been detected in the NYC token launched by former New York City Mayor Eric Adams. The project team cycled USDC in and out of the liquidity pool, extracting over $1 million. The NYC market cap once reached $600 million, then dropped below $100 million. The wallet associated with NYC deployer 9Ty4M (9Ty4...) created a unilateral LP on Meteora. This address removed about $2.5 million USDC at the high price point and re-added approximately $1.5 million USDC after the price dropped 60%.
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According to CoinWorld, based on monitoring by Bubblemaps, suspicious liquidity provider (LP) activity has been detected in the NYC token launched by former New York City Mayor Eric Adams. The project team cycled USDC in and out of the liquidity pool, extracting over $1 million. The NYC market cap once reached $600 million, then dropped below $100 million. The wallet associated with NYC deployer 9Ty4M (9Ty4...) created a unilateral LP on Meteora. This address removed about $2.5 million USDC at the high price point and re-added approximately $1.5 million USDC after the price dropped 60%.