ZachXBT Airdrop Sparks Meme Token Volatility Amid Fundraiser Campaign 

• ZachXBT liquidated over $3.7 million in WSOL shortly after receiving a 500 million token airdrop.  
• The ZACHXBT token price surged before crashing, highlighting the risks of illiquid meme tokens.  
• The crypto community raised additional funds for ZachXBT through Bitcoin, Ethereum, and stablecoin donations. 

Crypto investigator ZachXBT became a focal point in the meme token trading scene after 500 million ZACHXBT tokens were sent to his widely known public wallet. The airdrop, which coincided with a fundraiser to support his pro bono investigations, led to a significant trading surge and subsequent controversies.

Immediate Liquidity Withdrawal Sparks Reactions

Shortly after receiving the airdrop, ZachXBT liquidated over $3.7 million in wrapped Solana (WSOL), which was tied to the token’s liquidity pool. His actions effectively removed liquidity from the trading pool, sparking a price surge followed by a steep crash. The token’s valuation initially erased 15 zeroes, peaking at $0.07 before plummeting to $0.009 due to its illiquid nature.

Additional Tokens Received Amid Fundraiser Campaign 

The ZACHXBT token airdrop was followed by other token transfers to his wallet, including 900,000 CRIME tokens worth $27,000. While the community organized a separate Bitcoin, Ethereum, and stablecoins fundraiser to support ZachXBT, the token airdrop seemed to function as an unsolicited donation. ZachXBT’s wallet still holds over 10.13 million ZACHXBT tokens, valued at $95,000.

ZachXBT’s handling of the tokens drew mixed reactions from the crypto community. Some compared his actions to Ethereum co-founder Vitalik Buterin, who has a history of liquidating unsolicited airdrops for charitable purposes. However, others accused ZachXBT of effectively executing a rug pull by withdrawing liquidity and affecting other traders’ positions.

Meme tokens like ZACHXBT have gained popularity as quick fundraising tools. The token’s anonymous developer reportedly intended the airdrop as a gesture of support for ZachXBT’s investigative work. Despite this, the sudden liquidity withdrawal led to debates about transparency and the risks of investing in volatile, illiquid tokens.