Overview

• Investigators say the wallets turned a $2.8 million stake into roughly $12 million by purchasing immediately after YZY’s official reveal.
• A Manhattan judge unfroze $57.6 million in USDC tied to Davis and Ben Chow the day before YZY launched, a timing detail the report highlights.
• Bubblemaps traced funding from centralized exchanges into the wallet cluster ahead of launch through deposits and cross‑chain transfers.
• YZY’s valuation briefly approached $3 billion before plunging more than 90%, with analysts also flagging concentrated supply control estimated near 94%.
• The firm said it could not confirm insider access, Kelsier Ventures did not immediately comment, and court actions related to prior launches remain unresolved.