Cryptocurrency detective ZachXBT and data provider Lookonchain have teamed up to uncover cryptocurrency wallets linked to the username “MustStopMurad,” one of the most popular memecoin influencers of recent times.
According to the data, the influencer in question made a profit of approximately 61x in four months on a memecoin called SPX6900 (SPX). In four of the addresses shared by ZachXBT, this whale purchased 35.69 million SPX tokens for $387,000.
The purchases took place between June 2 and August 16. The value of these assets is around $24 million at the time of writing.
The memecoin in question is interestingly not listed on any centralized exchange, yet it has a massive market cap of $511 million. Considering that memecoins are already high risk, and this one is highly centralized, it is worth being careful.
ZachXBT said in his statement that the wallets, which he described as “very secret,” belonged to the influencer, and that he realized that these accounts were funded from the same source on Ethereum. In addition, he stated that the amount of assets in the wallets matched the posts shared by the influencer.
*This is not investment advice.