Quick Breakdown:
- NYC token surged to $600M market cap on Solana before plunging below $100M in suspected rug pull.
- Deployer wallet 9Ty4M seeded one-sided liquidity on Meteora, withdrew ~$2.5M USDC at peak, re-added $1.5M post-60% drop.
- Bubblemaps analysis highlights on-chain manipulation; Eric Adams promoted token on social media.
On-chain analytics firm Bubblemaps revealed alarming activity surrounding the NYC memecoin, linked to former New York City Mayor Eric Adams. The token rocketed to a $600 million market cap shortly after launch on the Solana blockchain, only to crash below $100 million following a massive liquidity extraction.
Data shows wallet address 9Ty4M identified as the deployer provided one-sided liquidity on Meteora DEX, pulled approximately $2.5 million in USDC at the peak, and later re-injected about $1.5 million after a 60% price drop. This sequence has sparked widespread accusations of a “soft rug pull,” eroding investor confidence in celebrity-endorsed memecoins.
Suspicious LP activity on $NYC 🚨
Launched by Eric Adams, former mayor of New York
The team extracted over $1M by cycling USDC in and out of the liquidity pools https://t.co/rJjXGgarUC pic.twitter.com/6XlJNaELe7
— Bubblemaps (@bubblemaps) January 13, 2026
Adams, a longtime crypto advocate who once accepted his first three paychecks in Bitcoin and pushed for lighter BitLicense regulations, announced the $NYC token on his personal social media. He positioned it as a tool to “combat anti-Semitism and anti-Americanism,” directing users to buynyctoken.com. However, liquidity drained rapidly within 30 minutes of promotion, leading to over $3.4 million in investor losses roughly double Adams’ reported net worth.
Bubblemaps exposes deployer tactics.
Bubblemaps’ visualization tools traced the wallet’s moves, showing classic rug pull signs: initial liquidity provision to inflate price, sniper sales at apex, and partial refill to feign recovery. Meteora, a key Solana DEX, hosted the pool where 93% of similar launches exhibited soft rug traits in recent scans.
Further concerns were raised by other observers
Other observers raised additional concerns, emphasizing the project’s risks. X user StarPlatinum cautioned that the project appeared highly centralized and therefore carried an elevated risk. Similarly, Rune Crypto, reporting on X (formerly Twitter), noted that a significant sum at least $3.4 million had already been drained. This pattern led Bubblemaps to draw comparisons with the controversial LIBRA token launch, which was also marked by observed liquidity manipulation.
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