ZachXBT Profits $3.87M from Memecoin on Solana After $20M Hack Recovery

Jan 21, 2025, 11:26 AM

On-chain investigator ZachXBT, known for his work in recovering assets from cryptocurrency hacks, has recently profited from a memecoin created in his likeness on the Solana blockchain. After expressing frustration over not receiving rewards for his efforts in recovering $20 million from a hack, a memecoin named $ZACHXBT was created, with 500M tokens, representing 50% of its supply, sent to ZachXBT's wallet. He added this supply to a liquidity pool, which led to a significant increase in the coin's market cap, surging from $8 million to $80 million within 50 minutes. Subsequently, ZachXBT withdrew approximately 16,059 SOL, valued at around $3.81 million, from the pool. Following this transaction, he transferred 16,348 SOL, worth about $3.87 million, to Wintermute, a trading firm.