Key Highlights
- ZachXBT plans to release a report on February 26 alleging insider trading at a major crypto company.
- The report claims multiple employees used internal data for personal trading profits over a long period.
- Traders are already speculating and betting on which major crypto firm will be named.
Blockchain investigator ZachXBT announced on X that he will release a report on February 26 alleging insider trading at one of the crypto industry’s most profitable companies.
In an X post on Monday, he wrote, “Major investigation dropping February 26 on one of crypto’s most profitable businesses where multiple employees abused internal data to insider trade over a prolonged period of time.”
Following this, traders have jumped on the Polymarket prediction market to bet on which company the investigator is going to expose. So far, traders have placed over $204,000 worth of bets on different crypto firms, including Binance, Coinbase, Tether, Circle, Kraken, Aave, OpenSea, and Ethena.
On the platform, World Liberty Financial, a crypto firm linked to President Trump, is leading with 23% of the bets, followed by Pump.fun with 20% and Binance with 15%. Meteora holds about 10%, while exchanges like Bybit, Jupiter, and Coinbase have an average of 5%.
ZachXBT’s track record
This is not ZachXBT’s first high-profile investigation. He’s often called the “Batman of the crypto world,” known for exposing scams, hacks, and illicit activity. For instance, late last month, he analyzed a case where over $282 million in Bitcoin and Litecoin were lost in a social engineering scam.
According to a previous report on Telegram, these stolen funds were about 2.05 million Litecoins and 1,459 Bitcoins. ZachXBT was able to track the transactions and find out how the hacker quickly converted the token into privacy-focused Monero (XMR) before moving them across multiple networks.
ZachXBT’s methods rely on blockchain analysis and tracking wallet activities in real time. In another case, he traced funds worth $23 million back to a U.S. government seizure wallet that was connected to the Bitfinex hack that happened in 2016, including details of how the stolen tokens were moved. In fact, he was reported to have exposed over $90 million in suspected illicit activity by the TRM lab earlier this year.
Broader context
ZachXBT has been one of the most closely watched independent investigators in the crypto space, with skills in on-chain analysis and research.
The upcoming report could change how people view crypto firms with bad practices. If employees in top firms are using secret information for their personal gain, it displays a greater risk for the company itself. The crypto space is eagerly expecting this report, which could highlight the need for better regulations and oversight.
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