In the ever-evolving world of cryptocurrency, the actions and investments of prominent figures can significantly impact market trends. Recently, an on-chain investigator and researcher, ZachXBT, has shed light on an intriguing development involving the well-known crypto personality MustStopMurad. This investigation has identified 11 accounts that are highly likely to be associated with Murad, with a combined wallet value of approximately $24 million in various meme coins on the Ethereum and Solana networks. This revelation raises important questions about potential market manipulation and the over-concentration of digital operations by influential personalities.
Evidence of Wallet Linkage
Common Funding Source
One of the critical pieces of evidence linking these wallets is the common source of funding. All 11 wallets received funds from a single Ethereum address, 0x93f. This address is connected to a multi-signature wallet that is still owned by Murad and other key figures behind Stakex. This shared funding source suggests a coordinated effort in managing these wallets.
Activity Time
The timing of activities associated with these wallets also raises eyebrows. For instance, wallet address GyBkVY was used by a trader to purchase 7.5 million MINI tokens just one hour before Murad publicly released his ‘conviction buys’ list on July 16th, 2024. The synchronization of transactions with Murad’s public statements suggests a possible connection to market-moving strategies, potentially making it challenging to link these actions to other participants.
DeBridge Utilization
Further analysis revealed extensive activity involving connections to and from other Solana addresses via deBridge. This suggests large-scale and purposeful trading activities closely associated with Murad’s actions. Such activities imply that these wallet connections might have been utilized for market-moving endeavors by influencers, highlighting the potential for significant market impact.
This discovery opens up intriguing possibilities regarding the influence of crypto personalities. Holding $24 million across these wallets in meme coins represents substantial purchasing power, and the transparency of public addresses allows the crypto community to closely monitor Murad’s future endeavors. However, there is also speculation that Murad might control additional, undisclosed wallets beyond the 11 identified in this investigation.
These continuous investigations underscore the importance of transparency and accountability in the cryptocurrency trading system. As the industry experiences rapid growth, ensuring a positive role in maintaining transparency is crucial for fostering trust and integrity among market participants.
