Copycat ZachXBT meme coins are spread across chains, but the on-chain detective sold all the tokens sent to his donation wallet and donated the profits.
Prominent blockchain investigator ZachXBT said several coins using his name and likeness have been launched on multiple blockchains over the past week to capitalize on the recent attention surrounding him.
He clarified that he was not involved in any tokens and reiterated his long-standing stance that he would never endorse or launch a meme coin.
Copy tokens emerge
In his recent post, ZachXBT revealed that every token sent to his donation wallet was sold on the market. All proceeds went to charitable causes rather than for personal use.
In total, approximately $41,000 was donated through The Giving Block to support earthquake relief efforts in Venezuela. The funds included 25,000 USDT sent to GiveDirectly on July 6, 5,000 USDT sent to Direct Relief later that day, and 153 SOL, worth approximately $11,000, donated to Direct Relief on June 28.
ZachXBT has established himself as one of the most respected investigators in crypto after repeatedly exposing scams and bad actors. He has consistently distanced himself from meme pieces. In April, ZachXBT said it had never promoted, deployed, or shared a coin’s contract address with its subscribers. He also added that while he manages a public donation portfolio to support his investigative work, he sells all tokens sent to him.
This stance was also evident in December 2023 after he temporarily deactivated his X account, warning users not to purchase meme coins using his name. After her brief departure, several coins based on Solana and related to her personality emerged.
Many community members defended him. Former Wall Street trader turned crypto artist Ovie Faruq said at the time that ZachXBT had done more than anyone to protect retail investors from crypto scams.
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His latest target was MemeCore. ZachXBT denounced the controversial coin and questioned its multi-billion dollar valuation. He also questioned why insiders appeared to control more than 90% of the token supply and criticized major exchanges for listing them despite red flags.
He also raised similar concerns regarding SIREN and LAB tokens this year.
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