$BTC
Blockchain Analyst Disputes James Wynn's Claims of Identity Misuse in Token Scams
Blockchain investigator ZachXBT has rejected claims by crypto trader James Wynn that anonymous entities are launching fraudulent tokens using his identity. According to ZachXBT, Wynn himself has allegedly engaged in similar meme coin schemes targeting his followers for years.
Wynn, known for his high-leverage contract trading and meme coin investments, has been repeatedly criticized for promoting low-cap tokens. Notably, he has been associated with coins such as WLON and WYNN, which were promoted as being tied to him.
In 2024, Wynn was accused by user Dylan of receiving 2% of Babypepe's supply and gradually liquidating his holdings post-promotion, profiting approximately $68,000. More recently, he was linked to the Solana-based meme coin MOONPIG, where he allegedly acquired 3% of the supply, contributed to a price spike, and then exited, leading to a significant price drop. Wynn denies any wrongdoing and insists he was merely an investor, not involved in the coin’s development or price manipulation.
Despite his growing profile, Wynn's trading history, dating back to December 2020, has been marred by controversy. He was reportedly paid $6,000 in Ethereum from Alameda Research and gained attention after his early investment in the PEPE meme coin, which surged from a $600K to $4.2B market cap.
Following PEPE’s success, Wynn shifted focus to leveraged trading on Hyperliquid, reportedly generating $46.5 million in profit in under two months. However, on-chain data shows volatile results: of 39 trades, only 17 were profitable. His largest gain came from a $25.19 million PEPE long position, while his most significant loss—$15.86 million—came from a Bitcoin short. Overall, Wynn's trading record reflects both significant gains and steep losses.
