A high-value withdrawal of nearly $23 million from token launches associated with YZY and LIBRA has raised concerns about security practices within the crypto space. Dethective, a renowned on-chain analyst, uncovered connections between this withdrawal and insider wallets, suggesting potential insider information might be at play. Blockchain analysis revealed the extraction targeting only these specific tokens, suggesting an intimate knowledge of the project’s inner workings. Following the suspicious transfers, liquidity has withdrawn significantly from public token launches. YZY, for example, saw $1-2 million extracted alongside a whopping $21 million withdrawal from the LIBRA token alone, while the remainder was routed through platforms like Binance. While the primary cryptocurrencies haven’t experienced drastic drops, chain-level fluctuations have been noted. The investigation points to potential vulnerabilities in governance and meme culture tokens. The absence of statements from project teams or regulators underscores the reliance on blockchain data for insights into these incidents. Community discussions are dominated by investigative findings rather than project updates. This incident could drive future regulations, prompting greater transparency in token launches as a way to mitigate similar events in the future.