By
Chimamanda U. Martha
June 27th, 2024
Web3 sleuth ZachXBT successfully identified the creator of the DJT token, securing a $150,000 bounty from Arkham Intelligence.
The saga began with the launch of the DJT token, also known as “Trump Coin”, which went live under the DJT ticker. Despite the excitement, there was no clear confirmation of its official connection to Trump, prompting Arkham to offer a massive bounty for anyone who could definitively prove the creator’s identity.
On social media platform X, Arkham posted, “Fuck it, we ball. $150,000 to the first person to definitively prove the identity of the creator of $DJT.”
Hours later, they announced that the bounty has been solved by popular web3 sleuth ZachXBT.
This bounty has been solved by @zachxbt.
At 11:49 pm UTC Zach submitted definitive evidence that Martin Shkreli is the creator of the $DJT token.
The source was original and not yet anywhere else on the internet. The information was later made public.
Zach Thread Below:… https://t.co/zH0VivDXrt
— Arkham (@ArkhamIntel) June 19, 2024
A Surprising Revelation
ZachXBT’s own account of the events highlighted the quick developments that followed his submission.
He detailed:
For those who are confused and need additional context.
Earlier today Arkham announced a $150K bounty for the identity of the DJT creator
11:49 pm UTC I reply to Arkham saying I submitted for the bounty
11:57 pm UTC Martin Shkreli panic DM’s me
12:27 am UTC Martin Shkreli… pic.twitter.com/pKCQDOo7AZ— ZachXBT (@zachxbt) June 19, 2024
Martin Shkreli, the infamous investor known as “Pharma Bro” due to his controversial past in the pharmaceutical industry, admitted to creating the DJT token in collaboration with Barron Trump, the youngest son of Donald Trump. This revelation came during a Twitter Spaces event where Shkreli claimed to have worked with a team of 40 to 50 people, including Barron Trump, to launch the token.
Legal Troubles and Market Reactions
Shkreli, who was released from prison in May 2022, has a history of legal troubles, including a lifetime ban from the drug industry and a substantial $64 million repayment order for securities fraud.
His connection to the DJT token adds another layer to his already complex legal issues. Attorney and Cinneamhain Ventures partner Adam Cochran suggested that Shkreli’s involvement might violate the terms of his parole, potentially leading to further complications.
The DJT token, based on the Solana blockchain (SOL price data), saw a significant surge in value following rumors of its connection to the Trump family. The token’s price reportedly jumped by 180% after the initial speculation. However, the legitimacy of these claims has been met with skepticism within the crypto community. Despite Shkreli’s assertions, there remain questions about the true nature and backing of the DJT token.
ZachXBT’s success in revealing the origin of the DJT token highlights the need for careful oversight and responsibility in the cryptocurrency realm. As the market expands, the role of investigators and watchdogs becomes increasingly vital to ensure that transparency and compliance remain key principles.