ZachXBT has tagged the investment fund Gotbit as “bad actors” as several partners rugpull users.
Through several screenshots, the self-proclaimed 2D detective ZachXBT alleged that the Gotbit Hedge Fund operates as a breeding ground for illicit crypto projects. Investigations from Zach show that the hedge fund has played a role in multiple rug pulls. The shocking allegation has sparked concerns among several users.
ZachXBT: Be Wary of Gotbit Partners
The on-chain sleuth urged investors to be wary of projects that announce a partnership with Gotbit because the majority of them eventually scam users. Zach referenced two Solana-based projects – Chain Pulse and a Kanye West-branded Yeonsolana. Both projects have recently rugged users of their investments.
Zach added that Gotbit secretly shares information with influencers via insider Telegram groups, giving them a headstart before average investors. The subsequent action is a “dumping on everyone.”
Gotbit defended itself through several comments. One such comment was that several memecoins listed on its platform are also available on notable platforms like Binance, KuCoin, Bybit, and others. The hedge fund also explained that the popular Solana-based BONK memecoin alongside a basket of memecoins passed through its platform. Still, these claims did not hold water as Zach and other users antagonized the hedge fund.
I just listed two in the past week and can name many more scams (ANALOS, SOMBRERO, MACHO, SIMBA, etc)
I did not even bring up your insider Telegram groups where you provide info to influencers before dumping on everyone.
You are proven bad actors to the space and provide… pic.twitter.com/EYJSYaboxS
— ZachXBT (@zachxbt) March 18, 2024
Users Frown at Gotbit
The comments from Zach have sparked a series of comments from Gotbit users. Following the hedge fund’s recently announced partnership with another crypto project, some users stated that an impending dump is on the way. Others outrightly labelled the project as “scammers.”
Another user wrote:
“Guys, you are losing your reputation at the speed of light… What’s going on with you? What kind of announcements and support for scam tokens? tokens live even better before you come to some of them… As soon as a partnership with gotbit is announced, a scam immediately occurs.”
