- ZachXBT accused Rekt Fencer of promoting pump and dump meme coins.
- Rekt Fencer was associated with ANALOS BALLZ and CATDOG.
- Rekt Fencer also used to run a crypto project called Dropcoin.
ZachXBT, quite a popular crypto detective on X, has called out crypto analyst and influencer Rekt Fencer for promoting fake meme coin projects, duping investors.
In an X post , ZachXBT revealed that Rekt Fencer was involved with meme coin projects like ANALOS BALLZ and CATDOG, and that the account didn’t exist in the previous market cycle. ZachXBT added that the account was created to share AI-generated images to boost their perceived authenticity.
One X user pointed out that the person behind Rekt Fencer was also paid by Polkadot (DOT) to promote their token. Another user highlighted that Rekt Fencer previously ran a project called Dropcoin, which capitalized on the airdrop trend. The project, despite having a large following, crashed 84% within 24 hours of its launch.
ZachXBT’s Earlier Investigations
ZachXBT previously accused crypto influencer and trader Ansem of engaging in pump and dump schemes; the two engaged in a heated conversation as well. ZachXBT first mentioned Ansem while discussing Murad Mahmudov’s “Memecoin Supercycle” speech at Token 2049.
Mahmudov spoke about his strategy to make significant gains from meme coins at Token2049 and Rekt Fencer took to X to explain how this strategy can make investors millions. Mahmudov has predicted that Bitcoin will reach a valuation of $200 trillion while meme coins will be valued at $1 trillion in three years.
Read also: South Korea Investigates KOK Token Crash, $3 Billion Lost
ZachXBT connected Rekt Fencer, Mahmudov, and Ansem, while the crypto community discussed a group of influencers allegedly scamming investors using meme coin projects that are quickly abandoned after launch.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
