On-chain investigator ZachXBT recently unveiled 11 Ethereum and Solana wallets holding over $24 million worth of tokens belonging to memecoin trader Murad Mahmudov.
Revealing the reason why he disclosed the wallet details, ZachXBT said he wanted the community to “monitor his future activity.” He added,
“Murad is making very bold predictions about micro cap memecoins to thousands and thousands of followers while controlling the supply. People deserve to make more informed decisions about the coins they buy.”
Mahmudov was the Chief Information Officer of Adaptive Capital. The crypto hedge fund collapsed in early 2020.
ZachXBT tied Mahmudov to the wallets because they’re all “funded from the same source on Ethereum,” the “funding source is also directly tied to [the] STFX team address/multisig signer” and the “holdings are similar to his posts.”
That being said, it should be noted that Mahmudov is an investor in STFX, a platform and DeFi and SocialFi protocol for short-term asset management.
ZachXBT added that the continued usage of deBridge for each Solana address and the funding source being “directly tied” to a team address STFX indicated that the owner is likely Mahmudov.
The on-chain investigator’s post saw mixed reactions on his post on X.
One side of the spectrum accused him of “doxing” Mahmudov’s wallets and highlighted how it could put him in a tricky position owing to the hefty sum of assets he holds.
For instance ‘pickle’ said,
“This is genuinely a bad thing to do btw. Murad is a doxed person but clearly didn't want his wallets doxed. Crypto people get wrenched/attacked all the time.”
Meanwhile, another user noted,
Others, however, highlighted that the reveal enhanced transparency within the ecosystem.
Furthermore, the ultimate essence of the on-chain industry indicates that the addresses and other details that the investigator shared were already available publicly.
A user elaborated,
“Blockchain wallets and transaction info is public. That's part of the beauty of things. You can be monitored and audited by your actions on-chain, especially if people figure out your wallets. Imho if you preach investment, your wallets and trades should be legally shared with people.”
