Crypto Sleuth ZachXBT Unmasks Martin Shkreli as Creator of DJT Token, Wins $150,000 Bounty

Blockchain Investigator Exposes Shkreli's Role

Blockchain analytics platform Arkham awarded a $150,000 bounty to renowned crypto sleuth ZachXBT for revealing that controversial entrepreneur Martin Shkreli was behind the Donald Trump-themed DJT token. ZachXBT submitted definitive evidence identifying Shkreli as the creator at 11:49 p.m. UTC, Arkham announced in an X post. “Thanks for going through with the bounty,” ZachXBT replied.

DJT Token’s Meteoric Rise and Controversy

The DJT token gained significant attention earlier this week due to rumors, fueled by an unsubstantiated news report by Pirate Wires, suggesting it had direct ties to former U.S. president Donald Trump. This speculation led to a more than 300% surge in the token’s value on Tuesday.

Martin Shkreli, a convicted securities fraudster, supported these rumors, claiming DJT was the official token of the Trump campaign and even wagering $100 million on its legitimacy with crypto trader GCR. However, Shkreli later claimed that GCR had withdrawn from the bet.

Arkham's Bounty and ZachXBT’s Revelation

Late Tuesday, Arkham announced a $150,000 bounty for anyone who could identify the DJT token’s creator. ZachXBT took up the challenge, and not long after, he revealed Shkreli’s involvement.

Shkreli himself admitted to creating the DJT token in an X Spaces session, asserting he developed it with someone named "Barron," implying the involvement of Donald Trump’s son. Despite Shkreli’s claims, there is no evidence linking Barron Trump to the token’s creation.

Martin Shkreli's Troubled Past

Martin Shkreli, dubbed “pharma bro,” gained infamy in 2015 as the CEO of Turing Pharmaceuticals when he increased the price of a life-saving medication by over 5,000%, making it much less affordable for patients. In 2017, he was sentenced to seven years in prison for securities fraud in a separate case and was released early in 2022.

Shkreli’s Claims and DJT Token’s Market Impact

Despite Shkreli’s ongoing assertions that he can prove the involvement of Trump or his family in DJT’s creation, Trump's campaign has not responded to requests for comment. Meanwhile, the DJT token has seen a 20.72% increase in value over the past 24 hours, trading at $0.01549 according to GeckoTerminal data.

ZachXBT’s uncovering of Martin Shkreli as the DJT token creator highlights the ever-evolving landscape of cryptocurrency and blockchain investigations. While Shkreli continues to claim connections to the Trump family, the lack of evidence leaves these assertions in doubt. The DJT token’s volatility and the intrigue surrounding its origins demonstrate the significant impact of rumors and revelations in the crypto world.