Analytics firm finds 90 wallets bought 90% of Mystery token

Blockchain analytics firm Bubblemaps reported that a cluster of 90 newly funded wallets, all seeded by address 0x544E, acquired roughly 90% of the Mystery (MYSTERY) memecoin supply at launch. The cluster later sold about $100,000 in tokens and retains about 40% of the supply, according to a post on X.

Bubblemaps traced the wallets to 0x544E, which withdrew and distributed 20 Ether from the Binance exchange shortly before the token launch.

The analytics firm called the pattern ‘textbook scam.’ Bubblemaps identified the activity as sniping, a tactic in which bots or automated trading tools purchase newly listed tokens the moment trading opens, often ahead of most traders.

Market trackers show Mystery peaked at about $7.5 million in market value on April 28 and has since fallen roughly 75% to near $1.9 million. The project markets itself as a free-spirited frog linked to Matt Furie’s ‘The Night Riders’ and says it acquired the official HEDZ NFT and related intellectual property; the team did not respond to requests for comment.

Bubblemaps noted prior instances of sniping and coordinated wallet clusters, including a February 2025 sniper reportedly earning nearly $28 million on another memecoin and a November 2025 case where about 160 wallets were identified as holding roughly 30% of a token supply at launch; a co-founder of that token disputed the finding.

The firm’s analysis states automated buying and coordinated funding concentrated a large share of Mystery’s supply in a small group of wallets at launch.