ZachXBT, a popular security researcher in the crypto space, has sparked debate among crypto investors after removing nearly $4 million worth of liquidity from a gifted token.
An anonymous developer launched a token named ZACHXBT on 21st January with 50% of the total token supply being sent to ZachXBT. The motto behind launching and sending tokens was to help Zach financially after what he posted on X the other day that he has been rewarded 0 sum of money in one of his multi million dollar crypto investigation.
The token ZACHXBT surged to a market cap of over $90 million before Zach provided single side liquidity in 500 million tokens he received and later removed nearly $4 million from the liquidity pool.
People familiar with the matter are now debating whether removing liquidity was good idea or not and if he had held onto tokens instead of crashing out the whole token to merely $9 million now.
A blockchain research firm, Lookonchain noted that Zach has now sent all his funds to Wintermute, a prominent market maker in the crypto industry.Â
This is a developing story and we will keep updating with additional information.
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