An address on the Solana blockchain associated with famed onchain sleuth ZachXBT has apparently cashed out on a memecoin.
According to onchain data, investigations.sol received 500 million memecoins distributed by the token's developer — which accounted for 50% of the total supply.
Instead of burning or holding onto the tokens, ZachXBT reportedly used 50% of the supply to add single-sided liquidity to the ZACHXBT/SOL pair.
Later, Zach removed nearly 91 million ZACHXBT tokens and the associated SOL from the liquidity pool.
The ZACHXBT token was deployed less than 24 hours ago. Its market capitalization hit a high of approximately $97 million. Following the withdrawal of the aforementioned ZACHXBT and SOL, the former's market capitalization fell to roughly $19 million.
Investigations.sol has transferred 16,000 SOL — worth roughly $3.9 million — to an address tied to market maker Wintermute through a new address in what appears to be an OTC trade.
"One of my biggest regrets is not prioritizing making money," ZachXBT posted yesterday. They also responded that they are "cooked" and stated that they "wasted time" on work that "never rewarded me at all and only warped my view of doing good."
The Block reached out to ZachXBT for comment.
The story is developing and will be updated with additional information.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
