Lookonchain: Multiple internal wallets suspected of obtaining $YZY contract addresses in advance for arbitrage purposes

Wallet 6MNWV8, which had advance knowledge of the contract address, spent 450,611 USDC to buy 1.29 million $YZY at $0.35. It then sold 1.04 million $YZY for $1.39 million, leaving 249,900 $YZY (approximately $600,000) for a profit of over $1.5 million. An investor, suspected of having access to information about Kanye West's token offering, lost $710,000 by buying the wrong $YZY. About 40 minutes ago, the same investor bought genuine $YZY for $761,000, making a profit of over $710,000, offsetting their previous losses.