A recent analysis by Bubblemaps has traced the origins of 38 controversial altcoin projects, revealing that over half originated in the United States. These projects, known for dense wallet clustering and transparency issues, have experienced significant price declines, with some dropping between -97% and -100%. Notable examples include MELANIA, CR7 Fake, FRIES, and ZEUS. The study also highlights that several projects from Europe and India have suffered similar massive losses.