According to @lookonchain, Eric Adams, the former New York City mayor, launched a memecoin $NYC and then removed liquidity at the price peak, withdrawing 3.18M USDC from the liquidity pool (source: https://twitter.com/lookonchain/status/2010991481230934203; source: https://solscan.io/account/9Ty4M4t9MZArhJBKFWbYrzeqdMf2Ua5eHWSRW3LXKyGt). The liquidity removal triggered panic selling among traders, with address Dr6s2o realizing a $473.5K loss (-63.5%) in under 20 minutes (source: https://twitter.com/lookonchain/status/2010991481230934203; source: https://solscan.io/account/Dr6s2ovWKfg32oFjLUdbw3Q33ZMhUEnMUMKMxyty2iFA). The transactions occurred on Solana, as evidenced by the activity recorded on Solscan for the cited addresses (source: https://solscan.io/account/9Ty4M4t9MZArhJBKFWbYrzeqdMf2Ua5eHWSRW3LXKyGt; source: https://solscan.io/account/Dr6s2ovWKfg32oFjLUdbw3Q33ZMhUEnMUMKMxyty2iFA). For traders, the immediate takeaway is elevated liquidity risk in new memecoins when LP funds can be withdrawn rapidly, as demonstrated by the 3.18M USDC removal and the swift drawdown reported (source: https://twitter.com/lookonchain/status/2010991481230934203; source: https://solscan.io/account/9Ty4M4t9MZArhJBKFWbYrzeqdMf2Ua5eHWSRW3LXKyGt).