The past week truly exposed the failures of our industry Despite our collective efforts as investigators, builders, and communities – the same names keep running the same scams The playbook is simple: Infiltrate big launches, get in early, and extract millions It’s happening in plain sight, and no one is stopping it In just a few days: • Hayden Davis: A judge unfroze $57M in USDC tied to the LIBRA collapse. The next day, Davis (Kelsier) sniped the YZY launch and made $12M • Naseem: A network of snipers tied to Naseem, famous for making $100M on TRUMP, was first to buy YZY. These snipers are consistently first, printing millions • Sahil: Behind many celebrity tokens, Sahil launched a Tyson Fury scam token on Zora and tricked Coinbase execs into engaging, giving it extra attention All of these cases show a systemic failure in law enforcement and user protection; > Crime is legal – no ground rules, no accountability, pure PVP > No international cooperation – bad actors hide in safe jurisdictions > CEXs and stablecoin issuers are often slow or uncooperative > The space has no memory – people keep falling for the same celebrity scams and shady KOLs, or just hoping to sell before it rugs This broken environment leads to one thing: theft gets more efficient, crimes go unpunished, and victims lose hope It has become abundantly clear that governments and regulators are too slow for this industry and won’t solve these issues. This space was built on independence and self-regulation, so we must set our own rules and hold ourselves to a higher standard Until fraud has real consequences and the industry works together, this cycle will keep repeating and crime will remain legal No one’s coming to save us