Prominent blockchain investigator ZachXBT has donated approximately $41,000 to charity after selling meme coins that were created without his involvement and sent to his public donation wallet.
The investigator said multiple copycat tokens using his name and image appeared across several blockchain networks over the past week as developers attempted to capitalize on his growing popularity.
ZachXBT emphasized that he had no connection to any of the projects and reaffirmed that he has never endorsed or launched a meme coin.
Meme Coin Donations Redirected to Charity
According to ZachXBT, every unauthorized token sent to his donation wallet was immediately sold, with all proceeds directed toward charitable initiatives instead of personal use.
The funds were donated through The Giving Block to support earthquake relief efforts in Venezuela.
The donations included 25,000 USDT sent to GiveDirectly on July 6, another 5,000 USDT donated to Direct Relief later the same day, and 153 SOL, valued at roughly $11,000, which was also contributed to Direct Relief on June 28.
Long Standing Opposition to Meme Coins
ZachXBT has built a reputation as one of the cryptocurrency industry’s most respected on chain investigators through his work exposing scams, exploits, and fraudulent actors.
He has consistently distanced himself from meme coin projects. In April, he publicly stated that he had never promoted, created, or shared the contract address of any meme coin with his followers.
He also explained that while he maintains a public wallet to support his investigative work, any tokens sent to that address are sold rather than held.
The investigator expressed a similar position in December 2023 after temporarily deactivating his X account. At the time, he warned users against purchasing meme coins using his identity after several Solana based tokens emerged claiming an association with him.
Many members of the crypto community defended his stance, including former Wall Street trader and crypto artist Ovie Farug, who praised ZachXBT for his efforts to protect retail investors from cryptocurrency scams.
Continued Scrutiny of Questionable Projects
ZachXBT has remained active in investigating controversial crypto projects.
Most recently, he questioned the multibillion dollar valuation of MemeCore, raising concerns that insiders appeared to control more than 90 percent of the token’s supply. He also criticized major cryptocurrency exchanges for listing the asset despite what he described as significant warning signs.
Earlier this year, he voiced similar concerns about the SIREN and LAB projects, continuing his efforts to highlight potential risks within the digital asset market.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
