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Draft:Bubblemaps

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  • Comment: See WP:NCRYPTO and WP:NCORP. TL;DR: We expect mainstream sources, even for cryptocurrency topics, and we expect them to speak about Bubblemaps specifically and at length. The sources that speak about Bubblemaps in depth are crypto-focused news organizations that we consider to provide routine coverage and the sources we have a higher opinion of do not cover Bubblemaps meaningfully. ~ A412 talk! 15:28, 7 September 2026 (UTC)
  • Comment: Vast majority of content lacks inline citations for substantive claims. Please cut content where no citation is available. CopyleftEverything (talk) 00:18, 11 June 2026 (UTC)


Bubblemaps

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Bubblemaps
TypePrivate
IndustryCryptocurrency
Founded2022
Websitehttps://bubblemaps.io/

Bubblemaps is a Paris-based blockchain data analytics company that visualizes cryptocurrency transactions with bubbles, clusters and lines. [1] Bubblemaps is used to analyze blockchain data, including account siphoning and wash trading.[2] Its tools have also been used to investigate activities connected to cryptocurrency and prediction-market platforms, such as Polymarket, particularly in relation to bets regarding U.S. military actions.[3]

History

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Bubblemaps was co-founded in late 2022 by Nicolas Vaiman, Léo Pons, Arnaud Droz and Cameron McIntosh.[4][5] Bubblemaps gained attention by analyzing the influence of Andreessen Horowitz (a16z) in Uniswap's governance.[6] In September 2023, Bubblemaps secured €3 million in seed funding from INCE Capital, Stake Capital, Momentum 6, V3ntures and angel investors, including Nicolas Bacca, Owen Simonin, Sylvain Theveniaud and Dyma Budorin.[4] On 29 May 2025, Bubblemaps released V2 of the platform, which introduced Magic Nodes, a function that reveals hidden wallet connections, and Time Travel, which displays token distribution changes over time.[7]

Token

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The BMT token was launched on 11 March 2025 on BNB Chain and Solana, with a total supply of 1 billion tokens.[8] BMT is used to access advanced tools and to vote on cases in Bubblemaps' platform called Intel Desk.[8][9]

Notable analyses

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Polymarket

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According to a Reuters review from 2 March 2026, $529 million had been wagered on Polymarket contracts concerning the timing of the 28 February 2026 attacks against Iran. Bubblemaps reported that six accounts collectively profited approximately $1.2 million from bets after the accounts had been funded within 24 hours before the strikes against Iran.[10][11] The report prompted a response from U.S. lawmakers, including Democratic Senator Chris Murphy, who responded to Bubblemaps' findings and said the bets should not be legal and said he planned to introduce legislation to ban them. Democratic Representative Mike Levin called for answers, transparency and oversight in response to Polymarket bets placed before the Iran strikes.[10] On 5 March 2026, Reuters reported that Murphy and Levin were working on legislation to restrict prediction markets following the bets.[12]

Bubblemaps also analyzed another Polymarket trader who netted approximately $967,000 since 2024 from bets on U.S. and Israeli military actions against Iran. The trader won 83% of their wagers related to Iran and 93% of wagers exceeding $10,000. Todd Phillips, a former CFTC advisory board member, told CNN that the pattern raised concerns about possible insider trading. CNN pointed out that it was not clear whether the trader was an insider.[13]

On 16 April 2026, Bubblemaps analyzed a Polymarket trader who profited over $300,000 correctly predicting former U.S. president Biden's last-minute pardons. Two accounts with a perfect track record of betting on the pardons were linked through a shared deposit wallet address. The Polymarket trader placed approximately $64,000 in bets across five separate wagers.[14]

On 17 May 2026, CBS News' 60 Minutes covered a Bubblemaps investigation into nine connected Polymarket accounts that collectively profited over $2.4 million from U.S. military actions related bets. These accounts had a 98% win rate across more than 80 bets. Nicolas Vaiman shared Bubblemaps' findings with CBS News' 60 Minutes and said the pattern could not be explained by luck alone.[3] The linked accounts placed dozens of winning bets regarding the war with Iran, even when the odds were low. [1] In late May 2026, the CFTC launched an investigation into potential insider trading on Polymarket regarding "Iran event contracts", two weeks after 60 Minutes reported on the accounts.[15]

NYC Token

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NYC token is a cryptocurrency associated with former New York City mayor Eric Adams, which was launched in January 2026.[16] Shortly after the launch, NYC token reached a market capitalization of approximately $580M. Bubblemaps analyzed the on-chain activity surrounding the token and flagged a digital wallet connected to the token for "suspicious liquidity movements" as $2.5 million had been removed at peak value. After the value of NYC token fell by about 60%, approximately $1.5 million was added back. Bubblemaps CEO Nicolas Vaiman said the transactions indicated that the developer of the token netted approximately $1 million in profit. Fortune independently reviewed the blockchain transactions and reported that the developer likely netted about $1 million.[16][17] Cryptocurrency watchers, along with Vaiman from Bubblemaps, raised concerns that Adams and the unnamed backers of NYC token may have conducted a rug pull.[16] Within 48 hours of the launch, many investors had lost money, including 15 investors, who lost at least $100,000 each according to Bubblemaps.[18] It remains unclear whether Adams received any of the proceeds. Elissa Buchter from PR firm People's Revolution claimed that the team has not withdrawn any money from the account.[16]

LIBRA

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LIBRA is a cryptocurrency that was promoted by Argentine president Javier Milei on 14 February 2025. The memecoin's price quickly soared following Milei's promotion but fell shortly after, leading to rug pull allegations.[19][20] Bubblemaps stated that accounts controlling around 80% of the tokens cashed out nearly $90 million. Bubblemaps also said its analysis identified on-chain connections between wallets associated with LIBRA and MELANIA.[20] According to Bubblemaps, a web of connections between wallets established a link between the creator of LIBRA and Melania memecoin.[21] The connection was established through cross-chain transfers between Solana and Avalanche networks.[22] Bubblemaps said the findings suggested that the same entity may have been involved in both projects.[22] President Milei denied promoting a newly launched cryptocurrency, saying he merely shared information about it.[23] However, by 16 February 2025, 112 criminal complaints were filed against him in relation to LIBRA.[24]

HAWK

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HAWK is a cryptocurrency associated with internet personality Haliey Welch. The token launched on 4 December 2024 and reached market capitalization of nearly $500 million.[25] Bubblemaps reported that approximately 96% of the token's supply was concentrated in a cluster of wallets on 5 December 2024.[26] Shortly after the token's launch, its market capitalization fell by more than 95%. According to Bubblemaps, 285 investors received 17% of the supply at launch, with almost half of them selling most of their holdings immediately and profiting more than $3 million. Bubblemaps also said that it's possible Welch was used merely as a marketing stunt.[25] The collapse of the token led some, including YouTube cryptocurrency investigator Coffeezilla, to accuse Welch and her team of involvement in a pump and dump. Welch denied that her team had sold any of its tokens.[27]

References

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  1. 1 2 "Online prediction market traders make millions betting on U.S. military operations". CBS News. 17 May 2026. Retrieved 7 September 2026.
  2. ↑ "Bubblemaps, une start-up française qui veut faire éclater la vérité avec ses bulles". 20 Minutes. 2023-09-28. Retrieved 2026-09-08.
  3. 1 2 "Suspected insider accounts net $2.4 million on Polymarket Iran war bets with 98% win rate, firm finds". CBS News. 17 May 2026. Retrieved 7 September 2026.
  4. 1 2 "La startup française d'analyse blockchain Bubblemaps lève 3 millions d'euros". Capital. 2023-09-18. Retrieved 2026-09-08.
  5. ↑ "Blockchain data visualization firm Bubblemaps raises $3.2 million in seed funding". The Block. 2023-09-18. Retrieved 2026-09-08.
  6. ↑ "20 Minutes" (PDF). 20 Minutes. 2023-06-14. p. 16. Retrieved 2026-09-08.
  7. ↑ "Bubblemaps Makes V2 Publicly Available: Details". U.Today. 2025-05-29. Retrieved 2026-09-08.
  8. 1 2 "Crypto Sleuthing Firm Bubblemaps Launches Token on Solana and BNB". Decrypt. 2025-03-11. Retrieved 2026-09-08.
  9. ↑ "Bubblemaps allocates BMT tokens for Intel Desk rewards". The Block. 2025-09-23. Retrieved 2026-09-08.
  10. 1 2 "Prediction markets scrutinised over Iran bets". Reuters. 2026-03-02. Retrieved 2026-08-31.
  11. ↑ Boaz Sobrado (2 March 2026). "Fresh Wallets Made $1.2 Million On Polymarket Hours Before Iran Airstrikes". Forbes. Retrieved 7 September 2026.
  12. ↑ "US Democrats working on bill to rein in prediction markets after Iran bets". Reuters. 2026-03-05. Retrieved 2026-08-31.
  13. ↑ "Iran war bets raise questions about prediction markets". CNN. 2026-03-24. Retrieved 2026-08-31.
  14. ↑ Allyn, Bobby (2026-04-16). "A Polymarket trader made $300,000 betting on Biden's pardons, a new analysis shows". NPR. Retrieved 2026-09-28.
  15. ↑ Knibbs, Kate (2026-09-11). "The US Government Launched 3 Previously Unreported Investigations of Polymarket Trades". WIRED. Retrieved 2026-09-28.
  16. 1 2 3 4 Schwartz, Leo (13 January 2026). "Investors cry foul over former NYC Mayor Eric Adams's crypto launch: 'Such an obvious rug'". Fortune. Retrieved 7 September 2026.
  17. ↑ Wang, Amy B. (13 January 2026). "Eric Adams's crypto coin crashes soon after launch, sparking scam accusations". The Washington Post. Retrieved 7 September 2026.
  18. ↑ Associated Press (15 January 2026). "Ex-NYC Mayor Eric Adams faces scrutiny over new crypto coin". AP News. Retrieved 7 September 2026.
  19. ↑ "How did Milei's LIBRA memecoin crash?". DL News. 2025. Retrieved 2026-08-31.
  20. 1 2 Nicas, Jack; Yaffe-Bellany, David (28 February 2025). "Milei, $Melania and Memecoins: Unraveling Argentina's Crypto Fiasco". The New York Times. Retrieved 7 September 2026.
  21. ↑ "Donald and Melania Trump's Terrible, Tacky, Seemingly Legal Memecoin Adventure". Bloomberg. 2025-12-14. Retrieved 2026-09-08.
  22. 1 2 "Bubblemaps links single entity to LIBRA and MELANIA memecoins". The Block. 2025-02-17. Retrieved 2026-08-31.
  23. ↑ "Javier Milei denies promoting cryptocurrency after LIBRA collapse". BBC News. 2025. Retrieved 2026-08-31.
  24. ↑ "Hasta ahora hay 112 denuncias penales en la Justicia Federal por el caso de la criptomoneda promocionada por Javier Milei". Infobae. 2025-02-16. Retrieved 2026-08-31.
  25. 1 2 Schwartz, Leo (10 December 2024). "Hawk Tuah girl wanted to reward fans with a memecoin—crypto insiders turned it into a 'one-day pump and dump'". Fortune. Retrieved 7 September 2026.
  26. ↑ "Hawk Tuah memecoin crashes after launch". The Block. 2024-12-05. Retrieved 2026-08-31.
  27. ↑ "Hawk Tuah coin collapses after launch". BBC News. 2024-12-05. Retrieved 2026-09-08.
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