Crypto sleuth ZachXBT claims that memecoin bull Murad Mahmudov’s 11 Ethereum and Solana wallets hold $24 million worth of tokens.
The self-proclaimed on-chain sleuth claimed in the October 8
ZachXBT said it made Mahmudov’s wallet public “so the community can monitor his future activities.”
“Murad is making very bold predictions about microcap memecoins to his thousands of followers while controlling the supply,” he claimed in a follow-up post.
“People deserve to make more informed decisions about the coins they buy,” he added.
ZachXBT specifically pointed out that Mahmudov purchased $449,886 of MINI coins on July 16, an hour before he made his
source: ZachXBT
He added that they will continue to use deBridge for each Solana address and that the funding source is “directly tied” to the team address. STFX provides clues that the owner may be Mahmudov. He is an investor in STFX, a platform for short-term asset management and DeFi and SocialFi protocol.
Mahmudov was previously Chief Information Officer at Adaptive Capital. Cryptocurrency hedge funds collapsed in March 2020 amid a widespread market downturn.
He has since built a large following on X by advocating for memecoins and posting a list of top memecoin recommendations for his followers.
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ZachXBT previously raised concerns about Mahmudov’s strategy, accusing him of using his own followers and promoting coins instead of having a legitimate “edge” in the market.
The blockchain investigator received mixed reactions online to his post, with some accusing him of “doxxing” Mahmudov’s wallet and expressing concerns that the significant value of the assets he holds could put him at risk.
source: resume
Meanwhile, others argued that the move created more transparency, with some arguing that the nature of the blockchain space meant that the information shared by ZachXBT was already known to the public.
Some
source: Gmoney NFT
Memecoin has been the subject of heated debate over the past year, with critics and advocates going back and forth over whether it has a role in the market.
Some executives believe memecoins play a vital role in getting people on board with cryptocurrencies, but the massive returns they bring in new investors may not last.
Critics say memecoins allow insiders and early investors to profit from less tech-savvy users who follow the market hype, invest in the coin without understanding it, and then lose out when the insiders cash out and disappear. says:
Mahmudov did not immediately respond to a request for comment.
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