Key Takeaways:
- Blockchain sleuth ZachXBT alleges that memecoin trader Murad Mahmudov controls 11 wallets holding $24 million, raising concerns about market manipulation.
- ZachXBT accuses Mahmudov of promoting memecoins while potentially influencing their supply, pointing to specific token purchases and public posts.
- The revelations have sparked debate, with some praising the transparency while others argue the doxing of Mahmudov’s wallets could put him at risk.
Blockchain investigator ZachXBT has accused memecoin trader Murad Mahmudov of controlling 11 wallets on Ethereum and Solana, collectively holding over $24 million in tokens.
In an Oct. 8 post, ZachXBT alleged that these wallets were funded from a common source and aligned with Mahmudov’s public comments, allowing the crypto community to track his activity.
ZachXBT criticized Mahmudov for influencing memecoin markets by making predictions to his large audience while allegedly controlling token supplies.
One example highlighted was Mahmudov’s purchase of $449,886 in MINI tokens shortly before publicly announcing it.
Mahmudov, a major figure in memecoins, has been accused of promoting specific tokens for personal gain.
The allegations sparked mixed reactions online, with some praising the transparency and others accusing ZachXBT of endangering Mahmudov by revealing his wallet addresses.
Supporters argued that these wallets, if confirmed, could affirm Mahmudov’s credibility as an investor.
Memecoins remain divisive, with ongoing debates about their impact on the crypto market.
Mahmudov has not yet responded to the claims.
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