1 month ago
Blockchain researcher ZachXBT has publically accused high-risk trader James Wynn of hypocrisy and deceptive trading practices.
In a May 28 post connected X, ZachXBT alleged that Wynn, who precocious condemned scam tokens tied to his name, had antecedently engaged successful akin pump-and-dump tactics involving memecoins.
The contention started aft Wynn warned his followers astir a token launched successful his name, stating that a radical helium referred to arsenic “the cabal” was exploiting his individuality to motorboat scam projects.
According to him:
“The cabal are launching coins successful my sanction and rugging them. This is simply a heavy farmed coin and volition spell to zero. Do not buy.”
However, ZachXBT pushed back, alleging that Wynn had antecedently promoted and dumped akin low-cap tokens.
The blockchain researcher accused the trader of “gambling with stolen money” connected Hyperliquid, implying that Wynn profited from unethical deals portion publically denouncing specified behavior.
Who is James Wynn?
Wynn is simply a self-proclaimed high-risk leverage trader who has rapidly go 1 of the astir salient figures successful crypto societal media circles implicit the past months.
His assertive trading connected Hyperliquid, a decentralized derivatives platform, has turned heads, peculiarly aft helium took a 40x leveraged presumption connected Bitcoin arsenic it surged towards caller highs.
This weekend, Wynn built billion-dollar trades connected some agelong and abbreviated sides of the market, further gaining precocious dispersed attention.
These high-stakes bets person propelled him into the spotlight. Data from the blockchain analytics level Lookonchain shows that helium executed 39 trades implicit the past 3 months, with 17 turning a profit, for a 45% occurrence rate.
The steadfast stated that his trades generated implicit $2 cardinal successful fees for the decentralized platform, and helium walked distant with implicit $25 cardinal successful profit.
Beyond trading, Wynn has besides framed himself arsenic a defender of decentralization and ethics.
He erstwhile claimed helium turned down a $1 cardinal monthly connection from Bybit, citing concerns implicit centralized speech practices. Instead, helium touted Hyperliquid, saying:
“[Hyperliquid] is our lone prime to revive the spot successful this industry.”
Old allegations resurface
Despite Wynn’s anti-scam rhetoric, past allegations proceed to formed uncertainty connected his reputation.
In 2024, a crypto user, Dylan, published a elaborate thread accusing Wynn of covertly requesting backstage allocations successful the BabyPepe token.
Screenshots successful the thread allegedly showed Wynn asking for 2% of the token proviso successful speech for helping the coin scope a $20 cardinal valuation.
After a little notation successful his Telegram group, Wynn reportedly sold the tokens for a speedy $68,000 nett and past severed each interaction with the team.
Beyond BabyPepe, Wynn has besides faced backlash for pushing different low-cap tokens specified arsenic ELON and WYNN, which are allegedly linked to his identity.
The trader has besides been linked to Alameda Research, the defunct crypto market-making limb of the failed FTX exchange.
FTX creditor activistic Sunil Kavuri noted that Wynn’s aboriginal wallets received ETH from Alameda and suggested Wynn whitethorn person benefited from insider tips.
According to Kavuri, Wynn received 6,000 ETH successful 2020 from Alameda. The FTX creditor activistic claimed that this aboriginal superior helped money Wynn’s memecoin trades and large-scale positions that present specify his nationalist profile.
He stated:
“James Wynn trades similar Alameda connected steroids due to the fact that helium astir apt was a trader there.”
The station ZachXBT exposes Hyperliquid high-risk trader James Wynn’s alleged hypocrisy and deceptive tactics appeared archetypal connected CryptoSlate.
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