Key Highlights
- Bubblemaps has accused X creator @beaverd of being responsible for launching a memecoin, $SIAS, on Pump.fun.
- The claims come just weeks after @beaverd won X’s $1 million Creators article competition.
- The firm highlighted that its findings are based on wallet behavior and transaction patterns.
Blockchain analytics firm Bubblemaps has accused X creator @beaverd of being linked to a series of failed memecoin launches, including one that briefly surged to millions in market value before collapsing.
The claims come just weeks after @beaverd won X’s $1 million Creators article competition, drawing renewed attention to the on-chain activity connected to wallets allegedly associated with the account.
$SIAS token surge and sudden collapse
According to Bubblemaps’ investigation, a wallet tied to @beaverd was responsible for launching a memecoin called $SIAS on Pump.fun. Shortly after launch, the token’s market capitalization climbed to approximately $6 million.
The rally was short-lived. Soon after, $SIAS crashed sharply, erasing most of its value. Bubblemaps noted that the token’s social media accounts were wiped out after the collapse, a pattern that is commonly associated with rug pull schemes.
Wallet activity and alleged profits
Bubblemaps claims that the $SIAS launch involved coordinated activity across multiple wallets. The firm alleges that four side wallets “sniped” the token early, allowing insiders to exit positions before the crash.
According to the report, these wallets collectively extracted nearly $600,000 from the token. Bubblemaps also flagged an additional $25,000 in traders from a wallet that is described as “known.”
Pattern of similar launches
Apart from $SIAS, the firm alleges that wallets linked to @beaverd have been used to launch multiple memecoins over time. According to Bubblemaps, all of these tokens eventually fell to zero.
The report highlights similarities across the launches, including short lifespans, rapid early price spikes, and sudden exits.
In response to the claims, @beaverd did not dispute the onchain findings shared by Bubblemaps. The creator, instead, said in an X post, “cry me a river also these arent even the top 5 greatest hits.”
Ongoing scrutiny around memecoin launches
The allegations add to broader concerns around memecoin launches on platforms like Pump.fun, where low barriers to entry and rapid trading cycles have made rug pulls a recurring issue.
While Bubblemaps’ findings are based on blockchain data that is publicly available, the firm highlighted that its conclusions are based on wallet behavior and transaction patterns.
As of now, no regulatory action has been announced related to the claims. However, the case reignites debate over accountability, transparency, and ethics.
Also Read: Accused $40M Govt. Crypto Thief ‘Lick’ Launches Memecoin on Solana
