In a recent investigation, crypto investigator ZachXBT unveiled the deceptive practices of Murad Mahmudov, a prominent figure in the meme coin trading scene.

ZachXBT Investigation

Crypto investigator ZachXBT conducted an investigation revealing the deceptive practices of Murad Mahmudov. The investigation uncovered hidden activities involving 11 different wallets, through which Murad allegedly concealed nearly $24 million in investments.

Murad Mahmudov's Strategy

Murad employed a strategy to artificially inflate the value of meme coins like SPX, which skyrocketed 61-fold due to his endorsements. According to ZachXBT, Murad amassed 35.69 million SPX tokens between June and August, actively generating buzz on social media to drive prices up.

Debates in the Crypto Community

The revelations have sparked heated debates within the meme coin community. Some defend Murad's actions as a normal part of investment promotion, while others see a clear conflict of interest due to his hidden holdings. This situation highlights a broader issue in the meme coin market where social media influence can lead to significant price surges, benefiting early investors.

ZachXBT's investigation serves as a reminder for investors to scrutinize the motives behind online endorsements and to demand greater transparency in the rapidly evolving world of cryptocurrency.