NYC project team repeatedly withdraws over $1 million in USDC

According to monitoring by Bubblemaps, suspicious liquidity provider activity has been detected with 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 market cap of NYC once reached $600 million, but later dropped below $100 million. A wallet address associated with the NYC deployer, 9Ty4M (9Ty4...), created a single-sided LP on Meteora. This address previously removed approximately $2.5 million USDC at a price peak, and after the price dropped by 60%, re-added about $1.5 million USDC.