Crypto Sleuth ZachXBT Cashes Out $4M from Memecoin

Well-known crypto sleuth ZachXBT complained yesterday on X that he’s never made any money from all of his work investigating crypto crimes.

Now he’s a millionaire.

An unknown developer created the Justice for ZachXBT memecoin, and its market capitalization shot up to about $88 million in less than four hours.

Half of the 1 billion tokens were sent to ZachXBT, who promptly added single-sided liquidity to the ZACHXBT/SOL pair. After the price went up, he removed about 91 million ZACHXBT and 16,000 SOL from the liquidity pool, cashing out about $3.8 million and transferring it to market maker Wintermute, presumably to be sold.

That move also crashed the value of ZACHXBT to about $5 million, according to GeckoTerminal, which led to some mixed reactions.

One self-described degen commented on X, “ZACHXBT TO INVESTIGATE ZACHXBT.”

Others commented that he deserved the money for all of his work and was entitled to take a payout.

'No Rewards'

It all started when an X user who goes by Micki commented that ZachXBT was going to be the “busiest person in crypto for the next 4 years,” adding, “hope u get well paid brother.”

To which ZachXBT replied, “one of my biggest regrets here is not prioritizing making money. Doesn’t help I have little business sense.”

He also said he was “cooked,” and when some commented that integrity would earn him more, he said, “not really.” He added that not getting rewarded had “warped my view of doing good.”

He noted that after helping the U.S. government recover a sizable chunk of $20 million in hacked funds, he was “rewarded zero,’” adding, “I just have many examples like this.”

Someone else suggested dropping a coin of his own, to which ZachXBT replied, “no.”

So someone did it for him.