ZachXBT, a well-known blockchain investigator, has reportedly cashed out $4 million from a memecoin linked to his name. Onchain data reveals surprising details about this move, sparking talks in the crypto community. This bold move offers a glimpse into ZachXBT’s shifting views on money and priorities.
Key Details of the Transaction
A memecoin named “ZACHXBT” was recently created by an unknown developer on the Solana blockchain. According to on-chain data, the wallet “investigations.sol,” tied to ZachXBT, received 500 million ZACHXBT tokens, half of the coin’s total supply.
Rather than burning or holding onto the tokens, ZachXBT reportedly used half of the supply to add single-sided liquidity to the ZACHXBT/SOL trading pair.
However, things took an interesting turn when he later withdrew nearly 91 million ZACHXBT tokens along with the associated SOL from the liquidity pool.
Although, the ZACHXBT token was launched less than 24 hours before this activity. As it initially reached a peak market capitalization of about $97 million. After the liquidity removal, the token’s market cap dropped significantly to roughly $19 million.
$4 Million OTC Trade
Following this event, the on-chain data also reveals that Zach transferred 16,000 SOL, worth about $3.9 million, to a new address before routing it to market maker Wintermute. This appears to have been an over-the-counter (OTC) trade, signaling an exit from the memecoin frenzy.
ZachXBT’s Reaction to This Transaction
Addressing the situation, ZachXBT shared his reaction to X following these transactions. He expressed regret over not prioritizing financial gains earlier in his career, stating, “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.
