Crypto Trader Exposed for Hiding $24M in Meme Coins

Crypto investigator ZachXBT has exposed Murad Mahmudov, a well-known meme coin trader, for using 11 different crypto wallets to conceal nearly $24 million in meme coin investments. Murad’s strategy involved promoting these coins to his followers while keeping his true holdings hidden. By using multiple wallets, Murad was able to disguise the extent of his ownership and share bullish predictions about these tokens to drive up prices, leading to massive gains.

ZachXBT’s research showed that Murad’s SPX token purchases surged 61 times in value, fueled by his own endorsements. Data from Lookonchain indicated that between June and August, Murad bought 35.69 million SPX tokens from several wallets. As he continued to hype SPX’s potential on his social media platforms, the value of his holdings increased dramatically. Critics say this allowed him to profit from the excitement he created, giving him a significant edge.

Although Murad hasn’t been directly accused of running paid promotions, ZachXBT’s findings point to a manipulative pattern. The investigator claimed that Murad used his influence to boost microcap tokens while hiding his large holdings from followers. “People deserve to know the wallets so they can make informed decisions,” ZachXBT stated, emphasizing the need for more transparency.

The revelations have sparked a debate within the meme coin community. Some users defended Murad, arguing that promoting one’s own investments isn’t necessarily unethical. One commenter on X stated, “Zach has some issue with people talking about their investments,” suggesting that Murad hasn’t done anything wrong. However, others see it as a conflict of interest, since he was allegedly pushing coins he secretly held.

These practices are common in the meme coin world, where many traders use social media influence to create excitement around low-cap tokens, resulting in price surges that benefit early investors like Murad. As the crypto market becomes more integrated with traditional finance, activities like these may face greater scrutiny and fewer chances to mislead investors.

This isn’t the first time ZachXBT has uncovered potential scams in the meme coin market. In a previous investigation, he revealed that a single individual was managing 16 different social media accounts to promote meme coins. These accounts were used to pump tokens across various platforms, making it appear as though there was significant interest in these projects.

The findings have led to renewed calls for increased transparency in the crypto community, especially regarding influencers and their holdings. As more people venture into the crypto world, the risk of being misled by hidden agendas remains a major concern. ZachXBT’s investigation serves as a warning to investors and a reminder to always verify the motives behind online endorsements.

The exposure of Murad’s 11 secret wallets has raised concerns about the risks linked to meme coin trading. While no legal action has been taken against him, the pressure is growing for clearer disclosure and ethical practices in the space. For traders like Murad, the days of covertly pushing personal investments might be coming to an end as the community demands higher standards of integrity.