The NYC project team has withdrawn over 1 million US dollars from circulating USDC

According to BubbleMaps monitoring, there has been suspicious liquidity provider activity in the NYC token launched by former New York City Mayor Eric Adams. The project team has withdrawn over 1 million US dollars by cyclically transferring and withdrawing USDC through the liquidity pool. The market value of NYC once reached $600 million, but later dropped below $100 million. The wallet address 9Ty4M (9Ty4...) associated with the NYC deployer created a unilateral LP on Meteora, which removed approximately $2.5 million USDC at the high price point and re added approximately $1.5 million USDC after a 60% price drop.