In a remarkable turn of events, the crypto sleuth ZachXBT has been awarded a $150,000 bounty by the blockchain analytics platform Arkham for identifying controversial entrepreneur Martin Shkreli as the creator of the Donald Trump-themed DJT token. This announcement comes after a week of speculation and unsubstantiated claims surrounding the origins of the DJT token, which had seen a meteoric rise in price earlier this week.
Solving the DJT Token Mystery
According to Arkham’s X post, ZachXBT submitted “definitive evidence” that Shkreli, also known as the “pharma bro,” was behind the creation of the DJT token. Shkreli himself later admitted to creating the token during an X Spaces session, though he remains adamant that he can prove the involvement of former U.S. President Donald Trump or his family in the project.
“This bounty has been solved by ZachXBT. At 11:49 p.m. UTC Zach submitted definitive evidence that Martin Shkreli is the creator of the $DJT token,” Arkham wrote in their announcement.
This bounty has been solved by @zachxbt.
At 11:49 pm UTC Zach submitted definitive evidence that Martin Shkreli is the creator of the $DJT token.
The source was original and not yet anywhere else on the internet. The information was later made public.
Zach Thread Below:… https://t.co/zH0VivDXrt
— Arkham (@ArkhamIntel) June 19, 2024
Shkreli’s Notorious Past
Shkreli gained infamy in 2015 when, as the CEO of Turing Pharmaceuticals, he dramatically increased the price of a life-saving medication by over 5,000%, making the drug much less affordable for many patients. In 2017, he was sentenced to seven years in prison for securities fraud in a separate case, and he was released early in 2022.
The DJT Token’s Meteoric Rise
The DJT token had gone viral earlier this week, with an unsubstantiated news report by Pirate Wires claiming that it had direct ties to the former U.S. president. This rumor triggered a massive price surge of over 300% for the token on Tuesday. However, the Trump campaign did not respond to The Block’s repeated requests for comment on the matter.
Ongoing Developments
Despite Shkreli’s admission, he remains adamant that he can prove the involvement of Trump and/or his family in the creation of DJT. The price of DJT has continued to rise, gaining 20.72% in the past 24 hours to trade at $0.01549 at the time of writing.
As the cryptocurrency community continues to unravel the mystery behind the DJT token, this episode serves as a reminder of the importance of thorough research and fact-checking in navigating the often-turbulent world of digital assets.