Cointime

Download App
iOS & Android

ZachXBT won’t assist after memecoin devs throw tokenholders under the bus

Validated Media

Prominent blockchain sleuth ZachXBT has refused to assist holders of the Complex (SIMPLE) memecoin, minted on the Base blockchain, after its developers abruptly shut down the project on April 4.

“After careful consideration and with heavy hearts, we’ve made the difficult decision to sunset Complex,” the project wrote, adding: “While this project has been a labor of love and a source of inspiration for our team, recent instances of harassment have created an untenable environment that impacts the mental well-being of our members.” 

Meanwhile, SIMPLE will remain liquidity-locked until a later date, allowing users to sell their token holdings until then. At the time of publication, SIMPLE has lost over 90% of its value in the past 24 hours and now has a negligible market cap.

It appears that users were very dissatisfied with the developers’ reference to “mental health” as the main reason for the project’s shutdown. “What kind of cringe shit is this?” wrote one user. “You guys didn’t even last a week and rugging using mental health as an excuse, might as well just rug without this pathetic attempt of a post expecting people to clap for you. Idiots.” 

Other angry users turned to ZachXBT in search of help. However, the blockchain sleuth was also dissatisfied, albeit at the incoming help requests: “No, I do not care about your meme coins stop asking me,” replied Zach. “I simply dislike spending long periods helping people who willingly choose to gamble on vaporware meme coins vs actual victims," he continued. “You do not even follow me and then speak poorly of me yet expect me to want to spend time helping you for free?”

  Source: ZackXBT

Another user who chimed in appears to have developed a deeper (and more poetic) understanding of the situation. “You expose people, and they attack you; you don’t expose, people attack you; God bless you, ZachXBT, this space wouldn’t be the same without you,” they wrote

It appears that the Complex memecoin project ended just days after its initial debut on March 30. The protocol had previously reached a high of 3,013 tokenholders. Amid the ongoing crypto bull market, memecoins have displayed average returns of 1,312.6%, the highest among the top tokens by market capitalization. 

BTC
Comments

All Comments

Recommended for you

  • Cointime's Evening Highlights for May 19th

    1.US spot Bitcoin ETFs saw net inflows of $948.3 million this week

  • This year, there have been more than 90 Bitcoin ecosystem-related financings

    There have been more than 90 financing transactions related to the Bitcoin ecosystem since 2024, setting a new record for the highest number of financing transactions in a single year in Bitcoin's history. Kyle Samani, Managing Partner at Multicoin Capital, pointed out that with the emergence of the Bitcoin Taproot upgrade and the Ordinals protocol, the Bitcoin ecosystem is experiencing a "developer renaissance". For some developers, building financial tools on Bitcoin is more attractive because it is the oldest and most secure blockchain. Multicoin Capital's investment trend is reportedly shifting from Solana to the Bitcoin ecosystem. The venture capital firm has invested in projects such as Solana Labs and StarkWare, but recently participated in the funding of the Bitcoin-native music platform Arch Network and the Bitcoin scaling network Mezo.

  • $1.911 billion worth of SOL transferred

    According to Whale Alert monitoring, 11,040,253 SOL (US $1,911,291,365) was transferred from an unknown wallet to another unknown wallet.

  • DeFi TVL exceeds $95 billion again

    According to defillama data, as of May 18, 2024, the total value locked (TVL) in DeFi has once again surpassed $95 billion. It is currently reported at $95.069 billion, an increase of nearly $12 billion from the low point of $83.04 billion 35 days ago. Among the top five protocols in terms of TVL, Eigenlayer has the highest 30-day increase, with TVL rising by 19.67% to a total of $15.455 billion.

  • Cointime's Evening Highlights for May 24th

    1. CryptoPunks Launches “Super Punk World” Digital Avatar Series

  • An address mistakenly transferred about $7,000 in BTC to Satoshi Nakamoto’s wallet

    According to Arkham monitoring, someone accidentally sent 90% of their BTC assets to Satoshi Nakamoto's wallet address last night. They were trying to swap Ordinal for PupsToken, but ended up sending almost their entire wallet balance - about $7,000 worth of BTC.

  • USDC circulation increased by 200 million in the past 7 days

    According to official data, within the 7 days ending on May 16th, Circle issued 1.8 billion USDC, redeemed 1.6 billion USDC, and the circulation increased by 200 million. The total circulation of USDC is 33.2 billion US dollars, and the reserve is 33.4 billion US dollars, of which 3.8 billion US dollars are in cash, and Circle Reserve Fund holds 29.6 billion US dollars.

  • Bitcoin mining company Phoenix Group released its Q1 financial report: net profit of US$66.2 million, a year-on-year increase of 166%

    Phoenix Group, a listed mining company and blockchain technology provider for Bitcoin, released its Q1 financial report, with the following main points:

  • Pudgy Penguins and Lotte strategically cooperate to expand into the Korean market, and the floor price rose by 3.1% on the 7th

    The NFT series "Pudgy Penguins" has recently announced a strategic partnership with South Korean retail and entertainment giant Lotte Group on the X platform to expand its market in South Korea and surrounding areas. More information will be announced in the future. According to CoinGecko data, the floor price of Pudgy Penguins is currently 11.8 ETH, with a 7-day increase of 3.1%.

  • Cointime May 12 News Express

    1.The number of Bittensor subnets for the AI ​​project will increase to 64, and 1024 subnets will be achieved this year2.Trader predicts Bitcoin price will reach $350,0003.vladilena.eth redeemed 1930 weETH from Zircult, suspected of selling4.Solana’s on-chain DEX transaction volume yesterday exceeded the sum of five chains including Ethereum, BSC, and Arbitrum5.RSS3 VSL locked-in amount surged in the past two days and is close to 200 million US dollars 6.The transaction volume of Club Key on friend.tech platform exceeded 1 million7.Lido has paid out more than 516,000 ETH in staking rewards, equivalent to approximately $1.51 billion8.1,000 BTC transferred from TronDAO to an unknown new wallet9.Report: Justin Sun deposited 120,000 eETH into Swell L2, worth $376 million10.1707.36 BTC have flowed out of Binance in the past 7 days