In the struggling cryptocurrency industry, Martin Shkreli, known as “Pharma Bro,” has claimed that he is behind the controversial DJT tokens after initially denying his involvement. This disclosure comes following investigator Arkham’s announcement on X of a $150,000 bounty to identify the creator of DJT tokens.
This is how the DJT creator identified
Following this announcement, ZachXBT replied to Arkham’s post saying, “I submitted for the bounty” at 11:49. After this reply, Pharma Bro panicked and DM ZachXBT at 11:57. Subsequently, Pharma Bro created a space and announced that he is the sole creator of the DJT token.
One of the large DJT insiders verso.sol dumping $832K worth of DJT and then depositing USDC to CEX ~1 hr agoCoincidentally also a large holder on Martin’s other project Shoggoth5cPzLzLQjt2oc8X6rGannrh7HmVJNAMFJKq21DdZRuHP https://t.co/1uJyZ6ydAC pic.twitter.com/uKz6AAAcKu
— ZachXBT (@zachxbt) June 19, 2024
The DJT token gained attention for its alleged ties to former President Donald Trump and his son Barron, prompting speculation within the crypto community about its origin. Despite earlier denials, blockchain sleuths discovered connections between DJT’s Telegram channel and a token supported by Shkreli.
The situation escalated when influential figures in the crypto space, including GiganticRebirth (GCR), publicly questioned Trump’s involvement in the project. GCR even placed a staggering $100 million bet against Trump’s alleged connection to the token, originally proposed by crypto trader Alex Wice.
In response to mounting pressure and speculation, Shkreli reached out to blockchain sleuth ZachXBT, confirming his role in creating DJT. This revelation has sparked further debate and scrutiny within the crypto community.
Impact on DJT token
Meanwhile, the Trump campaign has remained silent on the matter, and there has been no mention of the token on Trump’s TruthSocial platform. Transactions involving DJT tokens have seen significant fluctuations, with prices dropping by 58% in the past 24 hours.
Despite this ongoing drama, onchain analytics firm Lookonchain made a post on X, disclosing that an insider had initially bought a massive amount of DJT tokens before the announcement and made more than $1 million with an investment of only $9,400. Lookonchain also cited that, “This insider created a new wallet 3 days ago and withdrew 72 SOL from Binance.”
Another insider bought a large amount of $DJT(#TrumpCoin) before the post and made more than $1M with a cost of only $9,400!This insider created a new wallet 3 days ago and withdrew 72 $SOL from #Binance.He spent 67.1 $SOL($9,400) to buy 58.87M $DJT, then sold for 7,387… pic.twitter.com/xe8fAYlwDG
— Lookonchain (@lookonchain) June 19, 2024
Amidst all these developments, the overall cryptocurrency market is trying to recover, with top assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) experiencing price surges of 0.20%, 4.5%, and 1.3% respectively in the last 24 hours, according to data from CoinMarketCap.