A Solana wallet tied to renowned blockchain investigator ZachXBT withdrew nearly $4 million from a memecoin project associated with his name, causing mixed reactions within the community.

The controversy comes amid a community-led effort to raise funds for his investigative work, which has garnered widespread recognition for its effectiveness.

ZACHXBT token

Blockchain data shows that an address belonging to ZachXBT, identified as investigations.sol, received half of the total supply of a memecoin — equating to 500 million ZACHXBT tokens — created by an unknown developer.

Shortly after, the investigations.sol wallet used these tokens to create liquidity in the ZACHXBT/SOL trading pair and later withdrew approximately 91 million ZACHXBT tokens and 16,059 SOL tokens (around $3.81 million) from the liquidity pool.

On-chain data further shows the SOL was transferred to an address linked to crypto market maker Wintermute, sparking speculation about a possible over-the-counter (OTC) trade.

However, Sonic Labs co-founder Andre Cronje defended ZachXBT’s actions, highlighting his years of unpaid contributions to the crypto space. He argued that ZachXBT had every right to benefit from a token created in his name, given his track record of aiding projects and recovering funds for fraud victims.

Industry recognition

The development occurred after ZachXBT recently expressed frustration over the lack of financial rewards for his investigative efforts.

He disclosed that many of his investigations, like the October 2024 US government Bitcoin hack, yielded no personal gain despite their significant impact.

According to him:

“When the US government got hacked for $20M a few months ago I helped recover a sizable amount of those funds. Was rewarded zer

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Author: Oluwapelumi Adejumo