ZachXBT
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đ¨ Crypto Community Unites! đ¨
In an inspiring turn of events, blockchain detective ZachXBT steps up as a beacon of hope, joining forces with Manifold Trading, Selini Capital, and Munchables themselves. Together, they're the new guardians of the GameFi protocol Munchablesâ breached treasures, working to secure a $63M comeback.
This isn't just about restitution; it's a testament to the power of collaboration in the face of adversity. With Nethermind's expertise set to fortify future contracts, we're witnessing a rebirth, fortified by trust and transparency.
Conclusion: đ With ZachXBT and a team of esteemed custodians on board, the horizon for Munchables' users is looking brilliantly bright. This collaborative effort not only paves the way for the safe return of funds but also reinforces the crypto community's commitment to security and resilience. The future is secure, and it's a collective victory for all involved.
Source : https://cointelegraph.com/news/zachxbt-onboarded-custodian-return-funds-defi-exploit
#SecureTheFuture #ZachXBT #CryptoGuardians #MunchablesComeback
In an inspiring turn of events, blockchain detective ZachXBT steps up as a beacon of hope, joining forces with Manifold Trading, Selini Capital, and Munchables themselves. Together, they're the new guardians of the GameFi protocol Munchablesâ breached treasures, working to secure a $63M comeback.
This isn't just about restitution; it's a testament to the power of collaboration in the face of adversity. With Nethermind's expertise set to fortify future contracts, we're witnessing a rebirth, fortified by trust and transparency.
Conclusion: đ With ZachXBT and a team of esteemed custodians on board, the horizon for Munchables' users is looking brilliantly bright. This collaborative effort not only paves the way for the safe return of funds but also reinforces the crypto community's commitment to security and resilience. The future is secure, and it's a collective victory for all involved.
Source : https://cointelegraph.com/news/zachxbt-onboarded-custodian-return-funds-defi-exploit
#SecureTheFuture #ZachXBT #CryptoGuardians #MunchablesComeback
Scam alert đ¨đ¨: 12 meme coins gone, $26.7M lost post-presale.
12 #memecoins ventures disappeared post-presale, absconding with a total of $26.7 million from their investors according to Blockchain investigator #ZachXBT
Always stay alert, high-risk investments like memecoins are often targets for scams. Always do your due diligence.
12 #memecoins ventures disappeared post-presale, absconding with a total of $26.7 million from their investors according to Blockchain investigator #ZachXBT
Always stay alert, high-risk investments like memecoins are often targets for scams. Always do your due diligence.
đ¨ Crypto Community Unites! đ¨
In an inspiring turn of events, blockchain detective ZachXBT steps up as a beacon of hope, joining forces with Manifold Trading, Selini Capital, and Munchables themselves. Together, they're the new guardians of the GameFi protocol Munchablesâ breached treasures, working to secure a $63M comeback.
This isn't just about restitution; it's a testament to the power of collaboration in the face of adversity. With Nethermind's expertise set to fortify future contracts, we're witnessing a rebirth, fortified by trust and transparency.
Conclusion: đ With ZachXBT and a team of esteemed custodians on board, the horizon for Munchables' users is looking brilliantly bright. This collaborative effort not only paves the way for the safe return of funds but also reinforces the crypto community's commitment to security and resilience. The future is secure, and it's a collective victory for all involved.
Source : https://cointelegraph.com/news/zachxbt-onboarded-custodian-return-funds-defi-exploit
#UnitedInCrypto #SecureTheFuture #ZachXBT #CryptoGuardians #MunchablesComeback
In an inspiring turn of events, blockchain detective ZachXBT steps up as a beacon of hope, joining forces with Manifold Trading, Selini Capital, and Munchables themselves. Together, they're the new guardians of the GameFi protocol Munchablesâ breached treasures, working to secure a $63M comeback.
This isn't just about restitution; it's a testament to the power of collaboration in the face of adversity. With Nethermind's expertise set to fortify future contracts, we're witnessing a rebirth, fortified by trust and transparency.
Conclusion: đ With ZachXBT and a team of esteemed custodians on board, the horizon for Munchables' users is looking brilliantly bright. This collaborative effort not only paves the way for the safe return of funds but also reinforces the crypto community's commitment to security and resilience. The future is secure, and it's a collective victory for all involved.
Source : https://cointelegraph.com/news/zachxbt-onboarded-custodian-return-funds-defi-exploit
#UnitedInCrypto #SecureTheFuture #ZachXBT #CryptoGuardians #MunchablesComeback
#ZachXBT on X described involvement of TyroneJKD in deceptive practices associated with the 0xCrystals/0xCube scam and the @3PEACEART account. TyroneJKD was implicated in an engagement farming scheme during the previous bull market, utilizing fake giveaways, stolen posts, and a stolen profile picture to artificially boost engagement. Furthermore, their role in launching an #NFT project involved deceptive practices, falsely claiming it was free while charging 0.25 #ETH per mint. Compelling evidence connects #TyroneJKD to the fraudulent project, including funding the 0xcube.eth address, identified as the contract owner. Detailed analysis of Centralized Exchange deposits and withdrawals reveals temporal correlations with fund movements related to the scam, raising suspicions of potential fund mismanagement. Notably, significant amounts of ETH from the 0xCubes scam were funneled through Tornado Cash, indicating potential attempts at obscuring the origin of funds. Recent activity on Coinbase, involving a dormant address and subsequent transfers to TyroneJKD, further heightens suspicions. When confronted, TyroneJKD claimed involvement only in creating art, leaving unanswered questions. Numerous oddities and red flags, such as self-bidding with mint funds and similarities in Tornado/CEX activities, add to the overall suspicion, suggesting a complex web of potentially fraudulent activities surrounding TyroneJKD and the 0xCrystals/0xCube project.
đŚđ˛đ˝đđ˛đşđŻđ˛đż đđľ, đŽđŹđŽđ°
đĽ BREAKING: Google Cloud debuts new âBlockchain RPCâ service, compatible with #Ethereum đ° JSON-RPC standard for seamless integration with applications.
đĽ BREAKING: BlackRock and Microsoft set to launch a $30 billion artificial intelligence investment fund.
âĄď¸ JUST IN : LayerZero Foundation has unveiled #LZCatalyst , a $300M investment fund to support LayerZero-integrated projects.
âĄď¸ JUST IN: US Pro-Bitcoin đ° US Congressman Tom Emmer says government is scared of decentralization because "it restores what this country was built on". đ
đ¨đ¨đ¨ Token 2049 (Degen Summit) winner of the KOL award âProfessor Cryptoâ deactivates X account following allegations of using thousands of bots by #ZachXBT .
đĽ BREAKING: Google Cloud debuts new âBlockchain RPCâ service, compatible with #Ethereum đ° JSON-RPC standard for seamless integration with applications.
đĽ BREAKING: BlackRock and Microsoft set to launch a $30 billion artificial intelligence investment fund.
âĄď¸ JUST IN : LayerZero Foundation has unveiled #LZCatalyst , a $300M investment fund to support LayerZero-integrated projects.
âĄď¸ JUST IN: US Pro-Bitcoin đ° US Congressman Tom Emmer says government is scared of decentralization because "it restores what this country was built on". đ
đ¨đ¨đ¨ Token 2049 (Degen Summit) winner of the KOL award âProfessor Cryptoâ deactivates X account following allegations of using thousands of bots by #ZachXBT .
đąđĽMicroStrategy X account was hacked: The loss is hugeâŚ
The X account of #MicroStrategy company, which holds 190 thousand Bitcoins, was hacked at night. A tweet was sent from the account stating that an MSTR token had been issued and a trapped link was sent to the users. The loss of followers who clicked on this link reached about 450 thousand dollars.
MicroStrategy's X account, which has more than 190 thousand Bitcoins in its possession, was hacked and it was stated that an Ethereum-based MSTR token would be issued in the exchange.
A link was also shared âfor those who want to earn the tokenâ in the tweet stating that the token, which will be issued with the abbreviation MSTR, which is the share code, will be supported by the company's Bitcoin reserves.
Despite all the warnings made about angling and phishing, which is the most widely used attack hound of the recent period, it attracted attention that many followers fell into this trap.
Although the number of followers who clicked on the link is unknown, the #ZachXBT account, known for its crypto and on-chain research, stated that the total amount stolen was around 440 thousand dollars.
As it is known, those who click on the trap link shared in such attacks also connect their wallets to the system created by hackers and almost hand over their assets to these attackers.
There has been no statement from MicroStrategy company or chairman of the board Michael Saylor on this issue yet.
According to information from on-chain tracking companies, in 2023 alone, 350 thousand people's accounts were stolen due to phishing and phishing attacks, and about $ 375 million in funds were stolen.
#BTC #binance #michaelsaylor
The X account of #MicroStrategy company, which holds 190 thousand Bitcoins, was hacked at night. A tweet was sent from the account stating that an MSTR token had been issued and a trapped link was sent to the users. The loss of followers who clicked on this link reached about 450 thousand dollars.
MicroStrategy's X account, which has more than 190 thousand Bitcoins in its possession, was hacked and it was stated that an Ethereum-based MSTR token would be issued in the exchange.
A link was also shared âfor those who want to earn the tokenâ in the tweet stating that the token, which will be issued with the abbreviation MSTR, which is the share code, will be supported by the company's Bitcoin reserves.
Despite all the warnings made about angling and phishing, which is the most widely used attack hound of the recent period, it attracted attention that many followers fell into this trap.
Although the number of followers who clicked on the link is unknown, the #ZachXBT account, known for its crypto and on-chain research, stated that the total amount stolen was around 440 thousand dollars.
As it is known, those who click on the trap link shared in such attacks also connect their wallets to the system created by hackers and almost hand over their assets to these attackers.
There has been no statement from MicroStrategy company or chairman of the board Michael Saylor on this issue yet.
According to information from on-chain tracking companies, in 2023 alone, 350 thousand people's accounts were stolen due to phishing and phishing attacks, and about $ 375 million in funds were stolen.
#BTC #binance #michaelsaylor
Binance Freezes $4.2M from XRP Co-founderâs Wallet? đŽ
In the largest crypto #hack of 2024, Binance froze $4.2 million from Ripple co-founder Chris Larsen's personal wallet.
The breach targeted Larsen's accounts, not Ripple itself. The hacker, bypassing crypto mixers and decentralized exchanges, stole 213 million XRP (worth $112.5 million). Binance's CEO acknowledged the freeze, crediting on-chain sleuth #ZachXBT and Ripple's assistance.
Confusion arose as the XRP block explorers initially tagged the exploit to #Ripple . Larsen, coordinating with exchanges and law enforcement, aims to freeze the exploiter's address.
Despite Binance's action, others like OKX and Kraken are yet to reveal any fund freezes. The incident underscores ongoing security challenges in the crypto space.
#Binance
#crypto2024
In the largest crypto #hack of 2024, Binance froze $4.2 million from Ripple co-founder Chris Larsen's personal wallet.
The breach targeted Larsen's accounts, not Ripple itself. The hacker, bypassing crypto mixers and decentralized exchanges, stole 213 million XRP (worth $112.5 million). Binance's CEO acknowledged the freeze, crediting on-chain sleuth #ZachXBT and Ripple's assistance.
Confusion arose as the XRP block explorers initially tagged the exploit to #Ripple . Larsen, coordinating with exchanges and law enforcement, aims to freeze the exploiter's address.
Despite Binance's action, others like OKX and Kraken are yet to reveal any fund freezes. The incident underscores ongoing security challenges in the crypto space.
#Binance
#crypto2024
Worldcoin Faces Price Manipulation Allegations After Delaying Token Unlock âď¸
#Worldcoin is under scrutiny following allegations of price manipulation after delaying the unlock of 80% of its native tokens.
On July 16, Worldcoin's developer, Tools for Humanity, extended the token unlock schedule from three to five years, now concluding in July 2028. This #delay reduces immediate token supply, potentially preventing significant price drops.
Following the announcement, Worldcoin's token (WLD) price surged by 68%, from $1.90 on July 15 to $3.11 on July 17. DeFi Squared accused the Worldcoin team of manipulating prices and using insider information.
Crypto investigator #ZachXBT echoed these claims, calling Worldcoin a scam and criticizing involved venture capitalists and team members. Worldcoin has not yet responded to these allegations.
#Binance
#crypto2024
#Worldcoin is under scrutiny following allegations of price manipulation after delaying the unlock of 80% of its native tokens.
On July 16, Worldcoin's developer, Tools for Humanity, extended the token unlock schedule from three to five years, now concluding in July 2028. This #delay reduces immediate token supply, potentially preventing significant price drops.
Following the announcement, Worldcoin's token (WLD) price surged by 68%, from $1.90 on July 15 to $3.11 on July 17. DeFi Squared accused the Worldcoin team of manipulating prices and using insider information.
Crypto investigator #ZachXBT echoed these claims, calling Worldcoin a scam and criticizing involved venture capitalists and team members. Worldcoin has not yet responded to these allegations.
#Binance
#crypto2024
Warning: Coordinated Phishing Attack on Crypto Companies
Recent investigations have revealed that several companies dealing with Web3 technologies have been targeted in a sophisticated phishing attack. Suspicion falls on the email service provider Mailer Lite, which is used by some of the affected companies.
In this attack, fraudsters focused on users in the #crypto community, pretending to be Web3 companies. ZachXBT, an on-chain detective, pointed out phishing emails that appeared to be sent from legitimate sources, including decentralized applications and various crypto platforms.
 Details of the Phishing Attack
#ZachXBT published screenshots showing that the emails contained offers for fake token airdrops, enticing users to click on fraudulent links. These emails, diverse in content, had the same goal.
 #WalletConnect users were offered the chance to participate in a "special opportunity" as a thank you to the community, while Token Terminal users were informed about free tokens as part of celebrating a new milestone. De.Fi users were told that the airdrops were related to the launch of new features on their platform. Cointelegraph was allegedly celebrating its tenth anniversary.
 Victims and Responses of Affected Companies
ZachXBT warned that fraudsters stole more than $580,000 from users who clicked on these links. The phishing emails were very convincing because they used email addresses similar to the real ones.
 As information about the phishing attacks spread, the affected companies issued statements denying any connection to the attacks and warning users against interacting with suspicious links. WalletConnect, Cointelegraph, and Token Terminal clearly denied any involvement with the airdrops mentioned in the emails.
 Investigation and Security Measures
The investigation is still ongoing, but De.Fi identified Mailer Lite as a possible source of the problem. In response, De.Fi stated that they are moving their databases to another provider to increase the security of their users.
#crypto
 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.â
In this attack, fraudsters focused on users in the #crypto community, pretending to be Web3 companies. ZachXBT, an on-chain detective, pointed out phishing emails that appeared to be sent from legitimate sources, including decentralized applications and various crypto platforms.
 Details of the Phishing Attack
#ZachXBT published screenshots showing that the emails contained offers for fake token airdrops, enticing users to click on fraudulent links. These emails, diverse in content, had the same goal.
 #WalletConnect users were offered the chance to participate in a "special opportunity" as a thank you to the community, while Token Terminal users were informed about free tokens as part of celebrating a new milestone. De.Fi users were told that the airdrops were related to the launch of new features on their platform. Cointelegraph was allegedly celebrating its tenth anniversary.
 Victims and Responses of Affected Companies
ZachXBT warned that fraudsters stole more than $580,000 from users who clicked on these links. The phishing emails were very convincing because they used email addresses similar to the real ones.
 As information about the phishing attacks spread, the affected companies issued statements denying any connection to the attacks and warning users against interacting with suspicious links. WalletConnect, Cointelegraph, and Token Terminal clearly denied any involvement with the airdrops mentioned in the emails.
 Investigation and Security Measures
The investigation is still ongoing, but De.Fi identified Mailer Lite as a possible source of the problem. In response, De.Fi stated that they are moving their databases to another provider to increase the security of their users.
#crypto
 Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.â
Are Non-Ethereum Block Explorers Falling Behind? đĽś
Arthur, the founder of #DeFiance Capital, raised questions on social media regarding the user-friendliness of block explorers for non-Ethereum and non-EVM chains. On-chain analyst ZachXBT responded and provided a rating system.
#ZachXBT categorized block explorers into three tiers:
- Excellent tier: Blockchair, Mempool, and WalletExplorer for Bitcoin.
- Acceptable tier: OKLink for EVM-compatible chains, Solscan for Solana, Tronscan for Tron, and Bithomp for Ripple.
- Basic tier: Block explorers for Cosmos, Bittensor, Hedera, Harmony, and Algorand.
ZachXBT emphasized that aside from the chains rated as "acceptable," the block #explorers for other chains are in urgent need of improvement.
If you enjoy my content, feel free to tip me â¤ď¸
#Binance
#crypto2024
Arthur, the founder of #DeFiance Capital, raised questions on social media regarding the user-friendliness of block explorers for non-Ethereum and non-EVM chains. On-chain analyst ZachXBT responded and provided a rating system.
#ZachXBT categorized block explorers into three tiers:
- Excellent tier: Blockchair, Mempool, and WalletExplorer for Bitcoin.
- Acceptable tier: OKLink for EVM-compatible chains, Solscan for Solana, Tronscan for Tron, and Bithomp for Ripple.
- Basic tier: Block explorers for Cosmos, Bittensor, Hedera, Harmony, and Algorand.
ZachXBT emphasized that aside from the chains rated as "acceptable," the block #explorers for other chains are in urgent need of improvement.
If you enjoy my content, feel free to tip me â¤ď¸
#Binance
#crypto2024
đŚđ˛đ˝đđ˛đşđŻđ˛đż đŽđŹ, đŽđŹđŽđ°
đ¨đ¨ JUST IN : #ZachXBT uncovers $243 million social engineering attack on Genesis creditor.
Where three suspects used Google support impersonation to steal 4,064 #bitcoins đĽ on August 19, 2024. Stolen assets quickly dispersed to 15 exchanges.
đ¨đ¨ JUST IN : #ZachXBT uncovers $243 million social engineering attack on Genesis creditor.
Where three suspects used Google support impersonation to steal 4,064 #bitcoins đĽ on August 19, 2024. Stolen assets quickly dispersed to 15 exchanges.
ZachXBT Suspected $3.8 Million Insider Profits on RTR
Date: Sat, August 10, 2024, 06:38 AM GMT
In the world of cryptocurrency, celebrity-themed tokens continue to make waves. Investors have recently experienced both gains and losses with the newly launched coin, Restore The Republic (RTR). The token, which was surrounded by rumors of ties to the Trump family, became the latest focus of controversy.
On August 10, well-known on-chain detective ZachXBT took to social media to expose potential insider trading involving RTR. According to ZachXBT, four specific wallet addresses raked in a combined profit of $3.8 million during RTR's brief but intense pump-and-dump cycle. Two of these addresses, starting with 9G1ELG and GHoW2, are suspected to be controlled by the same individual. Interestingly, both received 500 SOL in new funds mere minutes after RTRâs Token Generation Event (TGE).
These four wallets which profited $3.8M need to be addressed.
Coinbase freshly funded
9G1ELGVGDe7GNATD77CkymxY3Q5CW1UTwncUrmVHj1we
GHoW2VUzDNz6khsCWdJbLoNc2GpwVMwb4p7v232gFBET
Both of these are clearly the same person as they were freshly funded with 500 SOL within minutes ofâŚâ ZachXBT (@zachxbt) August 10, 2024
The drama began on the evening of August 8, when RTR held its TGE. Excitement in the community was high, fueled by speculation that the token was connected to a new project by the Trump family. The token's price skyrocketed to $0.156 by midnight on August 9, only to take a sharp turn when Eric Trump, the second son of former President Donald Trump and executive vice president of the Trump Organization, issued a cautionary message on social media. He warned people to "be careful of fake tokens" and clarified that the only official Trump project had not yet been announced, promising to share any news on Twitter.
Friends: Beware of fake tokens! The only official Trump project has NOT been announced! You will hear it here first. https://t.co/33wfKyaMVBâ Eric Trump (@EricTrump) August 8, 2024
Following Eric Trump's statement, RTR's price plummeted by around 95%, and the token saw a trading volume of $164 million within just 15 hours of its launch.
ZachXBT's findings have further ignited debates within the crypto community about the need for greater transparency and regulation to prevent such incidents. As always, the volatile nature of the crypto market serves as a reminder for investors to approach new tokens with caution.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.
#ZachXBT #RTR
$RTR
In the world of cryptocurrency, celebrity-themed tokens continue to make waves. Investors have recently experienced both gains and losses with the newly launched coin, Restore The Republic (RTR). The token, which was surrounded by rumors of ties to the Trump family, became the latest focus of controversy.
On August 10, well-known on-chain detective ZachXBT took to social media to expose potential insider trading involving RTR. According to ZachXBT, four specific wallet addresses raked in a combined profit of $3.8 million during RTR's brief but intense pump-and-dump cycle. Two of these addresses, starting with 9G1ELG and GHoW2, are suspected to be controlled by the same individual. Interestingly, both received 500 SOL in new funds mere minutes after RTRâs Token Generation Event (TGE).
These four wallets which profited $3.8M need to be addressed.
Coinbase freshly funded
9G1ELGVGDe7GNATD77CkymxY3Q5CW1UTwncUrmVHj1we
GHoW2VUzDNz6khsCWdJbLoNc2GpwVMwb4p7v232gFBET
Both of these are clearly the same person as they were freshly funded with 500 SOL within minutes ofâŚâ ZachXBT (@zachxbt) August 10, 2024
The drama began on the evening of August 8, when RTR held its TGE. Excitement in the community was high, fueled by speculation that the token was connected to a new project by the Trump family. The token's price skyrocketed to $0.156 by midnight on August 9, only to take a sharp turn when Eric Trump, the second son of former President Donald Trump and executive vice president of the Trump Organization, issued a cautionary message on social media. He warned people to "be careful of fake tokens" and clarified that the only official Trump project had not yet been announced, promising to share any news on Twitter.
Friends: Beware of fake tokens! The only official Trump project has NOT been announced! You will hear it here first. https://t.co/33wfKyaMVBâ Eric Trump (@EricTrump) August 8, 2024
Following Eric Trump's statement, RTR's price plummeted by around 95%, and the token saw a trading volume of $164 million within just 15 hours of its launch.
ZachXBT's findings have further ignited debates within the crypto community about the need for greater transparency and regulation to prevent such incidents. As always, the volatile nature of the crypto market serves as a reminder for investors to approach new tokens with caution.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.
#ZachXBT #RTR
$RTR
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Massive $243M Theft: Security Lessons for the Crypto Community
September 2024 brought shocking news to the crypto world: $243 million was stolen in a carefully planned social engineering attack. Not only was this one of the biggest cybercrimes in the crypto space, but it also demonstrated the importance of privacy practices.
Shocking Claim: They Committed Fraud With Elon Musk's Project!
fig researcher ZachXBT claimed that the GROK token issued for Elon Musk's artificial intelligence initiative was a fraud.
A new event in the crypto industry created a bombshell effect. An anonymous cryptocurrency released on behalf of Elon Musk's artificial intelligence initiative Grok AI dropped by nearly 50 percent. The decline in question deepened with the claims of on-chain researcher ZachXBT.
#elonMusk introduced a new artificial intelligence initiative, Grok AI. The project in question was launched as a ChatGPT-like platform. On the other hand, crypto entrepreneurs started to issue cryptocurrencies using the name Grok AI. Among a number of cryptocurrencies, a token called #Grok gained 13,000 percent and gained attention behind it.
GROK, which attracted the attention of crypto investors, was shaken by a sensational event that came to the fore during the day. On-chain researcher #ZachXBT claimed that the people who created the GROK token, which reached a market value of $160 million, were fraudsters. After the project was labeled a fraud, the GROK price dropped by nearly 50 percent.
ZachXBT stated that the X account that created the #GROK token was used to create a new cryptocurrency. Allegedly, this anonymous person creates many cryptocurrencies and performs rug pull (fraud) instantly.
GROK, which is also offered for trading on central stock exchanges, dropped from $0.02 to $0.01 due to the impact of fraud allegations. Thousands of crypto investors suffered. As Coinkolik, we stated the other day that GROK token experienced an increase of nearly 13 thousand percent and alarm bells were ringing. Exactly the day after this news, GROK experienced a decline that victimized thousands of investors.
$BTC $ETH $BNB
fig researcher ZachXBT claimed that the GROK token issued for Elon Musk's artificial intelligence initiative was a fraud.
A new event in the crypto industry created a bombshell effect. An anonymous cryptocurrency released on behalf of Elon Musk's artificial intelligence initiative Grok AI dropped by nearly 50 percent. The decline in question deepened with the claims of on-chain researcher ZachXBT.
#elonMusk introduced a new artificial intelligence initiative, Grok AI. The project in question was launched as a ChatGPT-like platform. On the other hand, crypto entrepreneurs started to issue cryptocurrencies using the name Grok AI. Among a number of cryptocurrencies, a token called #Grok gained 13,000 percent and gained attention behind it.
GROK, which attracted the attention of crypto investors, was shaken by a sensational event that came to the fore during the day. On-chain researcher #ZachXBT claimed that the people who created the GROK token, which reached a market value of $160 million, were fraudsters. After the project was labeled a fraud, the GROK price dropped by nearly 50 percent.
ZachXBT stated that the X account that created the #GROK token was used to create a new cryptocurrency. Allegedly, this anonymous person creates many cryptocurrencies and performs rug pull (fraud) instantly.
GROK, which is also offered for trading on central stock exchanges, dropped from $0.02 to $0.01 due to the impact of fraud allegations. Thousands of crypto investors suffered. As Coinkolik, we stated the other day that GROK token experienced an increase of nearly 13 thousand percent and alarm bells were ringing. Exactly the day after this news, GROK experienced a decline that victimized thousands of investors.
$BTC $ETH $BNB