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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Jan 21, 2025 12:53 UTC
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Blockchain Investigator ZachXBT Cashes Out $4M from Memecoin Market
The blockchain investigator earned $4 million from the "ZACHXBT" memecoin on Solana.
Zach’s liquidity removal dropped ZACHXBT’s market cap from $97M to $19M in hours.
He expressed regret for not focusing on financial gains earlier in his investigative career.
ZachXBT, a renowned blockchain investigator, has drawn attention by cashing out $4 million from a memecoin tied to his name. On-chain data reveals surprising details behind this move, sparking discussions about ZachXBT’s changing views on money and priorities.
The Creation of ZACHXBT Memecoin
A memecoin named “ZACHXBT” was recently launched on the Solana blockchain by an anonymous developer. On-chain records show that the wallet “investigations.sol,” linked to ZachXBT, received 500 million ZACHXBT tokens—half of the coin’s total supply.
Instead of burning or holding the tokens, ZachXBT added half of the supply to the ZACHXBT/SOL trading pair as single-sided liquidity. This decision set the stage for a major twist.
Shortly after, ZachXBT withdrew nearly 91 million ZACHXBT tokens and the associated SOL from the liquidity pool. This came less than 24 hours after the token’s launch, during which its market cap had soared to $97 million. However, the liquidity removal caused a sharp drop, with the token’s value falling to around $19 million.
A Strategic Cash-Out
Further on-chain analysis shows that ZachXBT moved 16,000 SOL, worth approximately $3.9 million, to a new address before transferring it to the market maker Wintermute. This appears to have been an over-the-counter (OTC) trade, suggesting a calculated exit from the memecoin frenzy.
Financial Priorities Under Review
Addressing the situation on X (formerly Twitter), ZachXBT expressed regret over not focusing on financial gains earlier in his career. He shared,
“One of my biggest regrets is not prioritizing making money.”
He also mentioned feeling “cooked” and lamented time spent on work that, in his words, “never rewarded me at all and only warped my view of doing good.”
While some criticized the liquidity removal and cash-out as harmful to the meme coin’s community, others defended Zach, arguing that his work in uncovering scams and helping users recover stolen funds justifies his earnings.
Love it or hate it, this is a reminder that even crypto’s watchdogs sometimes join the race for profits.
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