Key Highlights
- ZachXBT donated $41K from unauthorized meme coin proceeds to charity supporting Venezuela earthquake relief.
- The $41,000 was donated through The Giving Block to Direct Relief and GiveDirectly for Venezuela earthquake relief efforts.
- ZachXBT reiterated he has never supported, promoted or planned to launch a meme coin despite multiple tokens using his identity.
Prominent independent blockchain investigator ZachXBT said he donated about $41,000 to charity after multiple meme coins using his name and likeness were launched across several blockchains without his involvement.
In a post on his Telegram channel, ZachXBT said he had no involvement with any of the tokens and reiterated that he has never supported, promoted, or planned to launch a meme coin. He added that every token sent to his public donation wallet in connection with the meme coin activity was sold on the open market, with the entire proceeds donated to charity.
According to the investigator, multiple developers created meme coins using his name and likeness across several blockchain networks to capitalize on the recent attention surrounding his work. He emphasized that none of the projects had his backing and repeated his long-standing position that he would never endorse or create a meme coin. Instead of keeping the assets sent to his donation wallet, he said they were immediately liquidated and converted into charitable donations.
The liquidation and relief breakdown
According to ZachXBT, the donations totaled roughly $41,000 and were made through The Giving Block to support relief efforts following the Venezuela earthquake.
The transactions included:
- 25,000 USDT sent to GiveDirectly on July 6, 2026, at 4:16 a.m. UTC.
- 5,000 USDT sent to Direct Relief on July 6, 2026, at 4:51 a.m. UTC.
- 153 SOL, valued at approximately $11,000, sent to Direct Relief on June 28, 2026.
ZachXBT also shared the blockchain transaction hashes for each donation, allowing the transfers to be independently verified on-chain.
The cost of high visibility
ZachXBT is one of the cryptocurrency industry’s most recognizable independent blockchain investigators. His on-chain investigations into hacks, scams, suspicious fund movements and exchange practices have earned him a large following among traders, security researchers and crypto firms.
In recent weeks, ZachXBT has drawn attention for criticizing Circle’s handling of frozen USDC linked to a major exploit and accusing KuCoin of sending a legal warning to a crypto theft victim instead of assisting with the recovery of stolen funds. Those high-profile investigations have further raised his visibility across the crypto industry.
The recent incident is a reflection of a larger trend in the crypto markets of opportunistic developers using the names and images of prominent figures in the industry to create speculative trading when they have no association with the projects.
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