Blockchain investigator ZachXBT sold meme coins using his name and sent the $41K proceeds to charities supporting Venezuela earthquake relief. Traders should note: a token tied to a public figure’s name is not an endorsement.
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Blockchain investigator ZachXBT said he sold meme coins that used his name on multiple chains over the past week and sent the proceeds to charity.
ZachXBT said he did not promote, support, or launch any of the tokens. He posted the update on his Telegram channel after traders created ZACHXBT-themed tokens tied to his public name.
“I have always stated I will never support or launch a meme coin,” he wrote.
All tokens sent to his donation wallet were sold, he said. He then sent the entire amount – worth about $41,000 – to charity through The Giving Block.
The funds went to Direct Relief and GiveDirectly for the Venezuela earthquake response. He shared transaction receipts for donations made in USDT and SOL between June 28 and July 6.
On July 6 at 4:16 a.m. UTC, he sent 25,000 USDT to GiveDirectly. He sent 5,000 USDT to Direct Relief later that morning at 4:51 a.m. UTC. A third donation included 153 SOL, worth about $11,000, sent to Direct Relief on June 28.
The move follows earlier debate around ZachXBT-linked tokens. In 2025, a ZACH token launched on Flaunch.gg claimed to direct most trading fees to him. Another Solana-based ZACHXBT meme coin had caused controversy after developers sent him part of the token supply. He denied creating or promoting that token.
The latest case shows how meme coin creators use public names to draw traders. These tokens can launch quickly across several chains with little notice.
ZachXBT’s public role in tracking scams makes the use of his likeness more sensitive. Traders may wrongly assume a token tied to his name has his approval.
The charity transfer also fits a wider pattern of crypto-based giving. The Giving Block data showed more than $1 billion in crypto donations went to charities in 2024.
For traders, the lesson is direct. A token that uses a public figure’s name does not mean that person supports it. Checking official posts, contract details, liquidity, and token ownership remains essential before trading.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.