Blockchain investigator ZachXBT has denied any involvement in meme coin promotions after revealing he sold unsolicited tokens sent to his wallets and donated approximately $41,000 in proceeds to charity. The clarification comes amid growing speculation over copycat meme coins launched without his authorization, with some users questioning whether he had profited from the projects.
ZachXBT said he has never created, promoted, or accepted payment to endorse any meme coin, reaffirming his commitment to remaining independent while investigating cryptocurrency scams and illicit blockchain activity. He added that the tokens were received through unsolicited airdrops and were sold solely to donate the proceeds, underscoring the growing problem of unauthorized meme coins exploiting the identities of well-known figures to attract investors.
In a Telegram post, ZachXBT explained that the meme coins were airdropped to his wallets without his consent. He said the proceeds from selling the unsolicited tokens were donated through The Giving Block to Direct Relief, ensuring he did not personally benefit from projects using his identity.
Donation Made Through The Giving Block
ZachXBT explained that the tokens were airdropped to wallets under his control without his consent. Rather than holding or benefiting from them, he liquidated the assets and donated all proceeds through The Giving Block to Direct Relief, supporting earthquake relief efforts in Venezuela. He also shared on-chain transaction records and donation receipts to verify the transfer, emphasizing that transparency was important to avoid any misunderstanding surrounding the sale.
- ZachXBT sold unsolicited meme coins and donated approximately $41,000 to charity.
- He retained 0% of the proceeds, with 100% of the funds donated through The Giving Block to Direct Relief.
- The disclosure follows his recent allegation involving a $250,000 theft case linked to KuCoin.
The clarification came after social media users alleged that his sale of the airdropped tokens contributed to a decline in their market prices. ZachXBT dismissed the criticism, noting that he had previously warned developers not to create tokens using his identity and had consistently distanced himself from speculative meme coin projects.
Unauthorized Meme Coins Raise Investor Concerns
The incident highlights an increasingly common trend in the cryptocurrency industry, where public figures, developers, and blockchain researchers become the namesakes of unofficial meme coins created without their involvement. These projects often attempt to attract traders by implying endorsements that do not exist, creating confusion for investors and exposing them to unnecessary risks.
ZachXBT has earned widespread recognition for investigating cryptocurrency scams, hacks, phishing attacks, and stolen digital assets. His blockchain investigations have assisted exchanges, security firms, and law enforcement agencies in tracking illicit funds and exposing fraudulent activity across the crypto ecosystem.
His response reinforces his long-standing stance that independent investigators should remain separate from speculative crypto projects and continue focusing on transparency and accountability across the digital asset industry. The clarification follows several recent investigations by ZachXBT, including allegations involving a $250,000 theft case linked to KuCoin and concerns over AscendEX’s withdrawal operations.
