ZachXBT Issues Warning on ZEUS Token, Citing Founders’ Links to Market Manipulation
- On-chain sleuth ZachXBT has issued a warning about the ZEUS meme coin’s founders.
- The warning came after whale James Wynn purchased over $100,000 worth of ZEUS tokens.
- ZachXBT linked the project’s creators to a firm that promoted market manipulation.
A major on-chain transaction by the well-known crypto whale James Wynn has drawn renewed scrutiny to the ZEUS meme coin, as prominent blockchain investigator ZachXBT has issued a public warning about the project’s founders.
The controversy ignited after on-chain data showed Wynn spent 39 ETH (approximately $104,000) to purchase 2.446 trillion ZEUS tokens. The warning highlights the creators’ past links to a company that openly promoted market manipulation strategies.
ZEUS Whale Buy Sparks Fresh Warnings of Market Manipulation
According to monitoring by Onchain Lens, James Wynn made a sizeable purchase of ZEUS meme tokens on June 16. On-chain data points out that such whale activity can appeal to retail traders, potentially leading them to follow these large moves, sometimes increasing volatility in the process.
The post ZachXBT Issues Warning on ZEUS Token, Citing Founders’ Links to Market Manipulation appeared first on Coin Edition.
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ZachXBT Issues Warning on ZEUS Token, Citing Founders’ Links to Market Manipulation
- On-chain sleuth ZachXBT has issued a warning about the ZEUS meme coin’s founders.
- The warning came after whale James Wynn purchased over $100,000 worth of ZEUS tokens.
- ZachXBT linked the project’s creators to a firm that promoted market manipulation.
A major on-chain transaction by the well-known crypto whale James Wynn has drawn renewed scrutiny to the ZEUS meme coin, as prominent blockchain investigator ZachXBT has issued a public warning about the project’s founders.
The controversy ignited after on-chain data showed Wynn spent 39 ETH (approximately $104,000) to purchase 2.446 trillion ZEUS tokens. The warning highlights the creators’ past links to a company that openly promoted market manipulation strategies.
ZEUS Whale Buy Sparks Fresh Warnings of Market Manipulation
According to monitoring by Onchain Lens, James Wynn made a sizeable purchase of ZEUS meme tokens on June 16. On-chain data points out that such whale activity can appeal to retail traders, potentially leading them to follow these large moves, sometimes increasing volatility in the process.
The post ZachXBT Issues Warning on ZEUS Token, Citing Founders’ Links to Market Manipulation appeared first on Coin Edition.
Read More