Is it a collapse of personal image or a disappointment to the industry? ZachXBT: In the end, it was a wrong payment.

Author: Yangz, Techub News

Following the release of personal Memecoins TRUMP and MELANIA by the Trump family, the story of celebrity Memecoins continues. Yesterday, ZachXBT, a popular blockchain detective, received 50% of the supply of a Memecoin created by community users with the same name and allegedly sold 16,348 SOL through OTC, making a profit of about $3.89 million. On one hand, many investors criticized ZachXBT for implementing a rug similar to TRUMP. On the other hand, supporters argue that ZachXBT deserves these rewards for the contributions he has made to the industry. (For readers unfamiliar with ZachXBT, you can read 'From Victim to Whistleblower: Exploring the Story of ZachXBT, the Strongest Detective in the Cryptocurrency Community').

So, why did ZachXBT, who is known as the 'justice ambassador of the currency circle', make such an unusual choice? In addition to some speculations by netizens, it is possible that the painstakingly cultivated image over the years ultimately cannot resist the temptation of interests. In fact, from ZachXBT's recent tweets, it is not difficult to see his extreme disappointment with the current industry development.

After Trump announced the launch of TRUMP, ZachXBT joked, "Make Crime great again." And Router Protocol team member @mickicrosschain recently commented on the Trump couple incident, saying, "The busiest person in the cryptocurrency field for the next four years will be ZachXBT." In response, ZachXBT said, "One of my biggest regrets is not putting making money first." In addition, ZachXBT revealed that in October last year, when the US government suffered a $20 million hacker attack, he helped recover a large amount of funds but did not receive any reward, and there are many similar experiences. ZachXBT said, "My time is wasted on meaningless things like this, without any return, but instead distorts my view of doing good."

After seeing ZachXBT's depressing remarks, many netizens comforted ZachXBT. Polycarpus.eth commented that ZachXBT is the conscience and moral compass of the industry and will eventually reap rewards that cannot be measured by money. However, in response to such encouragement, ZachXBT only replied with the words 'Nah I am cooked'.

Seeing that comfort was ineffective, a member of a certain community created Justice for Zachxbt (token ZACHXBT) on pump.fun under the guise of supporting ZachXBT (or possibly taking advantage of investors' sympathy), and transferred 50% of the token's supply to ZachXBT's previously disclosed wallet address investigations.sol. Influenced by TRUMP and MELANIA's recent events, as well as ZachXBT's fame within the industry, ZACHXBT attracted a large number of trades upon its launch, with a market value exceeding 90 million US dollars just two hours after its launch. After receiving these 500 million tokens, ZachXBT added them to the unilateral liquidity pool on Raydium (previously, ZachXBT had responded to its deployed ERC-20 token by stating that "I never intended for people to speculate on my investigative work"). One hour later, ZachXBT withdrew liquidity, withdrawing approximately 91 million ZACHXBT and 16,111 SOL. Together with the LP fees provided by Raydium, ZachXBT cumulatively transferred 16,348 SOL to the wallet starting with FjQBf, which was then sent to Wintermute. It is worth noting that ZachXBT subsequently locked the liquidity pool and added 96.19 million ZACHXBT (worth approximately $4.3 million) to it.

Affected by 'ZachXBT withdrawing liquidity', FUD sentiment about 'ZachXBT rug' has begun to spread in the community, and the market value of ZACHXBT has also fallen in response (at the time of writing, the market value is about $6.4 million). Investors represented by flock (6'3) have started to criticize ZachXBT, claiming that the good reputation he had built over the years collapsed instantly after deceiving investors' funds. But does withdrawing liquidity equate to a rug pull? In my opinion, this Memecoin was not created by ZachXBT. Furthermore, just like big names like Vitalik often sell unknown Memecoins received in their wallets, although the holding proportion may be less than 50%, can we still call these actions a rug pull? As summarized by Andre Cronje, ZACHXBT was built on the reputation of ZachXBT, and people buying the token madly to raise the price is also a way of acknowledging ZachXBT's efforts. When ZachXBT actually sells the tokens, people are not happy again. 'Never change Crypto. Never change. It's great to see that we are still constantly attacking the network contributors in this field.'

Many KOLs have also expressed their views on this matter. Ignas sighed, "The incentive mechanism of cryptocurrency has been broken. Honest people will not benefit like opportunists. In the cryptocurrency industry, it's really difficult to make a profit under morally acceptable conditions." AC commented, "This is not a unique problem in the cryptocurrency industry. Ultimately, good ethical standards will be a barrier. In a game where you can only tell the truth, while your opponents can lie at will, you will always be at a disadvantage."

The cryptocurrency industry is not lacking in outstanding talents, some of whom have already become wealthy, while others are still struggling in the industry. Ironically, while the industry is hoping to enter a 'golden age' under Trump's leadership, recent events have shown that it is still a 'profit-first' industry. Compared to profits, any cypherpunk ideals have to take a back seat. The Trump family issuing Memecoin to 'harvest' the cryptocurrency circle, individuals like ZachXBT who have made significant contributions to the industry being neglected, and the recent Ethereum Foundation's 'unmoved' response to community proposals, is this really the way our proud industry should be?