Issued ZACHXBT's issue Zeustoken, citing a link to the founder's market manipulation

A major on-chain deal by famous crypto whale James Wynn has sparked new scrutiny for Zeus Meme Coin.

After on-chain data ignited, it was shown that Wynn spent 39 ETH (approximately $104,000) to buy 2.446 trillion Zeustokens. The warning highlights past links between creators with companies that have openly promoted market manipulation strategies.

Zeus Dilla raises fresh warnings of market manipulation

James Wynn bought quite a few Zeus Meme Tokens on June 16th, according to monitoring by Onchain Lens. On-chain data points out that such whale activities can appeal to retailers, and can follow these major moves and sometimes increase the volatility of the process.

Large-scale whale purchases can often attract retail interest, but this purchase is carefully filled. Investigator Zachxbt immediately warned his followers that the creators behind the Zeus Meme Project had previously run a market production company named Darkpool.

According to Zachxbt's findings, Darkpool's public materials actively promoted market manipulation tactics such as chart manipulation and spoofing. The investigators recommended caution, noting that projects with historic connections to such practices still rely on investors for concern. Wynn's famous purchase amplified this scrutiny.

James Wynn's “Loser Persona” hides a profitable trading strategy

In addition to direct token purchases, additional on-chain data provides further information on Wynn's trading patterns. Investigators discovered a link between his public wallet and another, less traceable wallet.

These accounts could turn each other into a reversal in net hedge trading. On-chain analysis reveals that despite the market's perception of his losses and volatility, his private account appears to benefit through calculated positioning.

This analysis suggests that despite the public “loser persona” built on famous liquidation, his private account may be profitable through more calculated and complicated positioning. Researchers describe the persona, which has captivated over 370,000 social media followers, as an effective marketing tactic. Critics point to his trading history and $44,000 reportedly made it as evidence of well-planned public relations and trading strategies by the referral committee.