Onchain investigator ZachXBT says multiple meme coins were launched using his name and likeness without his approval. He sold every token sent to his donation wallet and gave the proceeds to charity.
The investigator donated $25,000 to GiveDirectly through The Giving Block to support victims of the June 24 earthquakes in Venezuela. The episode has revived debate over impersonation tokens.
ZachXBT Meme Coins Spread Across Chains Without His Blessing
Copycat tokens carrying the investigator’s name appeared on several chains in recent days. Traders flooded his replies asking whether he endorsed any of them.
ZachXBT has long kept meme coins at arm’s length. His publicly stated case criteria exclude meme coins and prediction markets entirely, alongside thefts below $250,000 per victim.
Impersonators often send tokens to public donation wallets to imply endorsement. The tactic borrows credibility from a known name without permission and leaves the target holding assets they never asked for.
He answered the speculation directly on X.
Such Scam Meme Coins Are Not New
Some accounts had accused the investigator of quietly profiting from the tokens. By selling everything and publishing the receipts, he moved to shut down manipulation claims before they spread further.
He also shared a transaction hash showing a 25,000 Tether (USDT) transfer, letting anyone verify the donation onchain. The investigator previously exposed 16 X accounts that shilled meme coins to followers.
The pattern is familiar. Tokens tied to famous names or franchises often pump on attention alone, as recent GTA 6 meme coins demonstrated in June.
Proceeds Head to Venezuela Earthquake Relief
The donation targets one of the region’s worst disasters in decades. Venezuela recorded 7.2 and 7.5 magnitude earthquakes on June 24, the strongest in the country since 1900, according to GiveDirectly. The charity’s campaign has raised more than $438,000 of a $1 million goal to send cash directly to affected families.
The crypto industry mobilized quickly after the quakes. Exchanges, humanitarian groups, and community campaigns opened Venezuela crypto donation channels within days, with stablecoins moving faster than traditional aid rails.
Impersonation tokens remain a stubborn problem, however. Even an FBI-created crypto token designed to catch criminals pumped 19x this year after gaining attention on X.
ZachXBT responded by converting an unwanted association into verified humanitarian aid. Whether the copycat tokens fade or keep trading on his name may show how much impersonation risk meme coin markets still tolerate.
Source: BeInCrypto
