Blockchain investigator Zachxbt has publicly condemned high-risk trader James Wynn for hypocrisy and deceptive trading practices.
In a May 28th post on X, Zachxbt alleged that Wynn, who recently condemned the fraud token tied to his name, had previously engaged in similar pump-and-dump tactics, including Memecoin.
The controversy began after Wynn warned his followers about a token released in his name, saying that the group he called “Kabal” is misusing his identity to launch a fraud project.
According to him:
“Kabal fires coins in my name and slams them. This is a heavy agricultural coin, and it will be zero. Don’t buy it.”
However, Zachxbt pushed back, claiming that Wynn had previously promoted and dumped a similar low cap token.
Blockchain investigators accused traders of “gambling with stolen money” for non-lipids, implying that Wynn had benefited from unethical trading while publicly denounced such behavior.
Who is James Wynn?
Wynn is a self-proclaimed high-risk leverage trader who has become one of the most prominent figures in Crypto social media circles over the past few months.
His aggressive trading on decentralized derivatives platform Hyperliquid turned his head after winning a 40x leveraged position, particularly as Bitcoin surged towards new highs.
This weekend, Winn has attracted even more attention by building a billion dollar deal on the long and short sides of the market.
These high stakes bets led him into the spotlight. Data from the blockchain analytics platform LookonChain shows that they have run 39 transactions in the last three months, with 17 earning profits with a success rate of 45%.
The company said his deal cost more than $2 million on the decentralized platform and left with profits of more than $25 million.
Beyond the deal, Wynn also frames himself as an advocate for decentralization and ethics.
He once claimed he turned down a monthly $1 million offer from BYBit, citing concerns about central exchange practices. Instead, he promoted high lipids and said:
“(Hyperliquid) is the only option to revive trust in the industry.”
Old claims resurface
Despite Wynn’s anti-Scam rhetoric, past allegations continue to question his reputation.
In 2024, cryptographic user Dylan published a detailed thread accusing Wynn of secretly requesting private allocations in Babypepe tokens.
A screenshot of the thread is said to have shown Wynn asking for 2% of the token supply to help the coin reach a $20 million valuation.
After brief mentions in his telegram group, Wynn reportedly sold the token for a quick profit of $68,000, cutting off all contact with the team.
Beyond Babypepe, Wynn faces backlash for pushing other low-cap tokens like Elon and Wynn.
Traders are also linked to Alameda Research, the deprecated crypto market establishment division of the failed FTX Exchange.
FTX creditor activist Sunil Kavuri pointed out that Wynn’s early wallet received ETH from Alameda, suggesting that Wynn may have benefited from insider tips.
According to Kavuri, Wynn received 6,000 ETH from Alameda in 2020. FTX creditor activists argued that this early capital helped fund Wynn’s Memecoin Trades and large positions, which define his public profile.
He said:
“James Wynn was probably a trader there, so I’ll trade it on steroids like Alameda.”