Ethereum

Solana

ZachXBT

On-chain investigator ZachXBT alleged that meme coin promoter Murad Mahmudov is promoting microcap meme coins while controlling their supply.
In an <a href="https://x.com/zachxbt/status/1843956220291379302#m" rel="noopener noreferrer nofollow">Oct. 9 post</a> on X, ZachXBT identified 11 Ethereum and Solana wallets he said are linked to Mahmudov, which collectively hold over $24 million in assets, raising concerns about transparency and potential conflicts of interest in his promotional activities.
“Murad is promoting microcap <a href="https://insidebitcoins.com/news/meme-coins-politifi-cryptos-soar-as-uptober-bull-run-hopes-make-a-comeback" rel="noopener noreferrer nofollow">meme coins</a> to thousands and thousands of followers while controlling the supply and making very lofty predictions,” ZachXBT said. “People deserve to know the wallets so they can make informed decisions.”
<img decoding="async" src="https://i.ytimg.com/vi/MfKRnUY3UV4/maxresdefault.jpg" alt="Bitcoin Education with Anthony Pompliano and Murad Mahmudov">
Mahmudov, who has almost 217k followers on X, was CIO at crypto hedge fund Adaptive Capital before its collapse in 2020, and has since become a prominent meme coin influencer.
<h2 id="span-style-font-weight-400-murad-mahmudov-wallets-identified-by-zachxbt-share-same-funding-source-span">Murad Mahmudov Wallets Identified By ZachXBT Share Same Funding Source&nbsp;</h2>
ZachXBT said that he is very confident that the wallets he identified belong to Mahmudov because they “were funded from the same source on Ethereum.”&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 2/2 Why do I say these 11 wallets belong to Murad.
 1) All wallets were funded from the same source on Ethereum
 0x93f019699ef400df7dc3477dbb6400ed9445a657
 2) Funding source is also directly tied to STFX team address / multisig signer
 3) Holdings are similar to his posts
 EX:… <a href="https://t.co/z3bmQWS4Hw" rel="noopener noreferrer nofollow">pic.twitter.com/z3bmQWS4Hw</a>
 — ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1843940661021814829?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 9, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
In addition to sharing the same funding source, the wallets display similar holdings to those publicly disclosed by Mahmudov, according to the on-chain sleuth. In an Oct. 8 X post, ZachXBT shared the Solana and Ethereum addresses that he believes belong to the <a href="https://insidebitcoins.com/news/top-4-meme-coins-to-buy-or-trade-now-for-massive-gains-pepe-neiro-pepu-popcat" rel="noopener noreferrer nofollow">meme coin</a> promoter.&nbsp;
However, he said he suspects that there might be additional unidentified wallets belonging to Mahmudov that are not connected to the “cluster” of addresses uncovered.
<h2 id="span-style-font-weight-400-zachxbt-s-findings-spark-debate-span">ZachXBT’s Findings Spark Debate</h2>
Several investors on X <a href="https://x.com/TanJackedTrader/status/1843940975196172591" rel="noopener noreferrer nofollow">questioned</a> ZachXBT on why Mahmudov would dump his meme coin holdings since he has been such a “huge positive” for the meme coin space recently.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Zack you have been a gift to the space n we all appreciate everything you do to keep it clean
 But this is NOT good.
 A reach n influence like yours comes with accountability.
 First With ansem. Regardless of your view of him an accusation from you really hurts people. U know…
 — W3Q (@Web3Quant) <a href="https://twitter.com/Web3Quant/status/1843951832797942160?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 9, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
One X user even criticized the on-chain investigator for putting Mahmudov in harm’s way after revealing his balances and addresses. The X user also warned that ZachXBT’s supposed findings could lead to a mass sell-off if Mahmudov decides to book some profits due to investor panic.
Other investors <a href="https://x.com/NZDEFI_/status/1843943636737917115" rel="noopener noreferrer nofollow">said</a> that Mahmudov is entitled to sell his meme coin holdings whenever he wants since he bought all of the tokens himself, as opposed to other influencers who promote projects that gave them free tokens.
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
<ul>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/microstrategy-stock-hits-highest-level-since-march-bernstein-predicts-further-51-surge" rel="noopener noreferrer nofollow">MicroStrategy Stock Hits Highest Level Since March, Bernstein Predicts Further 51% Surge</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/dogwifhat-price-plunges-6-as-this-new-vote-to-earn-meme-coin-rival-charges-towards-1-million-in-presale" rel="noopener noreferrer nofollow">Dogwifhat Price Plunges 6% As This New Vote-To-Earn Meme Coin Rival Charges Towards $1 Million In Presale</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/pepe-unchained-zooms-past-18m-in-presale-after-raising-1m-in-less-than-a-week" rel="noopener noreferrer nofollow">Pepe Unchained Zooms Past $18M In Presale After Raising $1M In Less Than A Week</a></li>
</ul>

On-Chain Sleuth ZachXBT Alleges Murad Mahmudov Promotes Meme Coins While Controlling Their Supply

Table of Contents

Inside Bitcoins

Other articles published on Oct 10, 2024

Ronin Integrates Chainlink Protocol to Secure Cross-Chain Transactions

Cardano Faces Price Pressure Due to PlusToken’s ETH Sales

Exciting Share from Binance Founder CZ! Is He Coming Back?

Nick Szabo, Len Sassaman, or Someone Else: Who is the Real Satoshi Nakamoto?

Altcoin Watch: SUI, SEI, SOL, APT, FET and the Upcoming Bull Run

FIFA signs an esports deal with former rival Konami

Join our free newsletter for daily crypto updates!