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A major on-chain transaction by the well-known crypto whale James Wynn has drawn renewed scrutiny to the ZEUS meme coin, as prominent blockchain investigator ZachXBT has issued a public warning about the projectās founders.
The controversy ignited after on-chain data showed Wynn spent 39 ETH (approximately $104,000) to purchase 2.446 trillion ZEUS tokens. The warning highlights the creatorsā past links to a company that openly promoted market manipulation strategies.
According to monitoring by Onchain Lens, James Wynn made a sizeable purchase of ZEUS meme tokens on June 16. On-chain data points out that such whale activity can appeal to retail traders, potentially leading them to follow these large moves, sometimes increasing volatility in the process.
The post ZachXBT Issues Warning on ZEUS Token, Citing Foundersā Links to Market Manipulation appeared first on Coin Edition.
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