1. The sponsorship crisis behind top conferences

The 2025 Token2049 conference is about to be held, this event, known as 'the Davos of the crypto world', has raised alarms due to on-chain detective ZachXBT's warnings. According to his disclosure, this conference's naming sponsor Spacecoin is suspected of robot manipulation, and several platinum sponsors—including exchanges and market makers like Bitunix, JuCoin, Auros—have severe credibility risks 1 40 74. This reminds one of the platinum sponsor JPEX from the same conference in 2023, which collapsed after harvesting $100 million, leaving 1,400 victims with nothing 1 74.

ZachXBT pointedly states: 'Token2049's screening of sponsors is virtually non-existent; as long as you pay, you can be gilded.' This 'paid endorsement' model is turning industry conferences into platforms for scam projects to whitewash themselves.

Two, high-risk project exposure: Who is using the conference for 'harvesting'?

1. Spacecoin: A robot project dressed in a naming cloak
As the conference's naming sponsor, Spacecoin claims to build a 'space economic blockchain', but its on-chain data exposes the truth:

  • Over 70% of trades are cyclically operated by the same batch of addresses, creating false liquidity 1 74

  • Anonymous teams with no blockchain industry background, official website white papers plagiarize multiple failed projects 40

2. Fatal flaws of the three giants in exchanges: Bitunix, JuCoin, WEEX
These exchanges share common characteristics:

  • Team anonymity: Core member information is blank on the internet, cannot find on LinkedIn 1 17

  • Historical stains: Bitunix has been reported by users for malicious pinning and liquidation, JuCoin involved in multiple withdrawal freeze disputes 36 74

  • Trade data fraud: 24-hour trading volume exceeds $5 billion, but depth is as thin as 0.1% price slippage 36

3. Market makers Auros and DWF: The 'invisible hand' manipulating the market
ZachXBT tracking reveals that these two institutions commonly use 'left hand to right hand' strategies:

  • Use related accounts to manipulate the market, attracting retail investors to take over before crashing for cashing out 40 74

  • Deeply involved in multiple 'rug pull' projects, including the collapsed LunaOne and MuscleX 17

Three ways to see through the 'gilded sickle'

ZachXBT advises investors to master the following survival rules:

1. Team transparency review

  • Verify core member information published on the official website, search their LinkedIn career trajectory

  • Beware of the 'all-star advisory team': A project's advisory list includes former Tesla employees, but they are actually just maintenance workers 1

2. On-chain data diagnostics

  • Use DEX Screener to check token holding concentration: If the top 10 addresses hold over 60%, it is high risk 1

  • Monitor abnormal transactions: Frequent self-trading from the same IP address is a manipulation signal 40

3. Historical background tracing

  • Check project affiliates: If funds are found to flow between JPEX, FTX and other collapsed institutions, immediately distance yourself 74

  • Verify technology patents: Projects claiming to possess revolutionary technology must verify the authenticity of patent numbers 17

Four, from JPEX to Spacecoin: Sponsor collapse law

History repeats itself: The platinum sponsor JPEX from the 2023 Token2049 used the conference aura to commit fraud:

  • Distribute high-yield financial vouchers during the meeting, promising '30% capital protection' 1

  • Immediately restrict withdrawals after the meeting, team disappears after taking $120 million 74

The common trick of these projects is:

  1. Pay exorbitant sponsorship fees to gain trust endorsement

  2. Intensive marketing during the conference to attract investors

  3. Utilize market FOMO sentiment to complete the final wave of harvesting 1 36

Five, investor defense guide

1. Beware of 'three no projects'

  • Absolutely avoid projects with no transparent teams, no on-chain verification, and no third-party audits

2. Control participation scale

  • During the conference, project token volatility often exceeds 300%, do not chase highs and cut lows 40

  • Keep invested funds within 5% of total assets

3. Utilize regulatory tools effectively

  • Log in to the National Enterprise Credit Information Publicity System to verify the business registration of the project party

  • Real-time monitor large holder movements via blockchain browsers (e.g., Etherscan) 74

Conclusion: Don't let the grand event become a 'remnant feast'

When industry conferences become gilded pools for scammers, investors need to maintain a clear awareness: real value projects never rely on exorbitant sponsorships to prove themselves. Remember ZachXBT's advice: 'In the crypto world, you can't earn money outside of recognition—but you can lose everything due to gullibility.' Only by holding the weapon of due diligence can one safeguard their wealth baseline amidst chaos.