Blockchain analytics firm Bubblemaps has identified that 90% of the supply of a newly launched token called Mystery was scooped up by just 90 wallets shortly after its debut. The finding, shared publicly on Wednesday, points to a coordinated snipe — a tactic in which bots or pre-funded addresses buy up most of a token seconds after liquidity opens.
What the data shows
According to Bubblemaps’ on-chain analysis, the token's total supply was nearly entirely controlled by a small cluster of addresses within the first minutes of trading. The firm posted a visual map of the wallets, showing dense connections among them, suggesting they were likely operated by the same group or individual. The token, which launched without a public presale, saw its price spike briefly before dropping sharply as the snipers began selling into retail demand.
Why sniping matters
Sniping is a common problem in decentralized finance, especially on automated market makers like Uniswap. Malicious actors monitor pending transactions or use high-speed bots to buy large amounts as soon as liquidity is added, leaving regular traders with overpriced leftovers. In this case, the concentration of supply means the Mystery token effectively became a trap for anyone who bought after the initial block. Bubblemaps did not name the token's creators or the wallets behind the snipes, but the firm noted that the pattern is typical of a rug pull setup.
Bubblemaps' role
Bubblemaps has built a reputation for exposing suspicious token distributions. The firm uses on-chain data to visualize wallet connections, making it easier to spot coordinated buys, insider control, and potential scams. Its analysis of Mystery adds to a growing library of flagged tokens where early investors are left holding worthless assets after insiders exit.
What happens next
The Mystery token's smart contract remains active, but the snipers now control the vast majority of supply. Without a clear developer team or community, the token is effectively dead on arrival for legitimate trading. Bubblemaps has not received a response from the project, and no further details about the wallets or the token's origin have been released. The incident underscores how quickly a seemingly promising token can turn into a loss for anyone outside the initial sniper group.
