Meme Coin "Rug Master": Transformed into Sei Ecology Overnight ZachXBT

Author: The Light; Compiler: Luccy, BlockBeats

Editor's note: Recently, Sei has relied on parallel EVM narrative Attracting the attention of the community, the price increase of its native token SEI also broke through a new high, with an increase of nearly four times in two weeks. As Sei’s popularity grows, a new influencer named Shadow and his project Seidow Token have entered the public eye.

At first, Shadow seemed to make it his mission to discover carpet scams and warn others, and was even called "sei eco-ZachXBT." However, encryption researcher The Light started from Shadow’s activities on social media and tracked a series of transactions and behaviors. He found that Shadow may be involved in some improper activities, including manipulation of the Sei ecosystem and investment in the Seidow project, and pointed out bluntly Shadow is a rug liar. BlockBeats compiles the original text as follows:

Shadow in some Twitter replies Manifest Desire (Archived NSFW)

TLDR: Shadow is a serial con man who changes tactics to gain more from the Sei ecosystem More funds. Seidow’s tweets were linked to a scam that recently destroyed 30% of Seidow holders of the project. He remains a majority shareholder in Seidow, so his future NFT minting and products may be at risk.

With the recent popularity of Sei Network, a new influencer has attracted attention due to his project Seidow Token and his seemingly selfless determination to identify rugs and warn others. focus on. Little is known about Shadow's background, with some comparing him to Sei's ZachXBT. His tweets only date back to earlier this year, and a deeper search of the Twitter replies only revealed his desire for Egyptian women (see above NSFW) and his love for Real Madrid Football Club.

But this is not the point, nor is it the key point. I'm a little too impatient, so let's start from the beginning.

I first noticed Shadow while discussing Seidow's new launch in a small group chat on Telegram. My friend Josei (a self-proclaimed Seiscan detective) warned me that he noticed some suspicious trading activity after the coin’s initial dump when it started to increase in trading volume. He mentioned one wallet that was consistently bidding nearly $5,000 for the token, representing about 30% of the supply, while the liquidity pool held less than $10,000. He then contacted the developer (Shadow) and despite the developer's denials, he still wasn't convinced. He said, "This developer claimed to be based and ran away" was very accurate.

Telegram conversation with Shadow about suspicious buyers, by Josei offers

To be fair, it is not uncommon for teams to purchase their own token supply to achieve supply shocks, which can sometimes be quite bullish. However, it seems a bit fishy for a self-proclaimed “foundational developer” who was an early investor in ETH, BNB, AVAX, SOL and SEI to deny that this was his behavior because he “really didn’t have $5,000 to invest.” My curiosity got the better of me, so I started looking more closely at the buyer's address and Seidow Token.

When looking at the Seidow buyer's wallet, something immediately caught my eye. The wallet, which previously launched the rug token $SEITYR, appears to be launching a new rug token called $SEIJURO after purchasing $5,000 of Seidow. It's already weird for a random buyer to put so much money into a new Sei token, but if that buyer is also the same person who launched the rug token, then I'd be even more suspicious. In my experience, if a scammer is this close to a rug trade before a coin is listed, especially using such a large scale, usually the coin is theirs. Things got more interesting when I started digging into where the scammers/buyers were getting the SEI, but I’ll get to that later.

Seidow Token instantiation message metadata< /p>

The first thing to notice about Seidow Token is that it feels very low-cost. There is no production website, the Twitter account only has a few posts (even though it was created in April 2012), the logo is uploaded via imgur (commonly used for low-cost rug projects), and they didn't even bother getting a contract from $SEIYAN Change marketing description when copying code in . Seidow Token later launched a Zyro builder website and updated their logo to look even more casual than the original. Despite all these caveats, SEI sent to Seidow's developer wallets comes from CEX or a bridge, and due to lack of better analysis tools on SEI, the trace ends there.

After my initial discovery, I considered Seidow Token as a possible rug project, thinking that Shadow would eventually liquidate 30% of their tokens and delete social media account, and then everyone moves on to the next project like most alchemists do. but it is not the truth. Shadow started popping up on my timeline again and again. Usually to publish inaccurate information that a project is a scam. While I thought Shadow's reputation would be damaged by tweeting around and spreading ignorant FUD about newly launched projects, the opposite seems to be true. He began to build an army of followers, amassing a large fan base who would spread his FUD from group to group.

I started to notice a problem, how about "basic developers" Don’t you know the basics?

Shadow is clearly using this as a way to build his reputation and draw attention to his token, without caring about the impact this may have on other projects and damage to people’s investments. As his name came up more and more often, my distaste for Shadow continued to grow, and I knew he was most likely a con man who realized at the last minute that he could turn a tough rug operation into an even bigger one. scam. But it wasn’t until I saw Shadow’s comments below that I wanted to share the information I had with the public and learn more about him.

Shadow cunningly enters the Sei Network core team

I couldn't sit back and let Shadow steal any Sei Fund grants, so I started gathering all the information and started investigating the clues he left behind.

One ​​caveat that helped me identify the rug project early was that this newly launched project used a recycled Twitter account. Scammers use old accounts that already have hundreds or even thousands of followers to try to make their projects look more legitimate, but is that really the case? Who in their right mind would believe that you have been planning a Sei memecoin since 2012? Using a Twitter username tool that stores previously scanned Twitter IDs and usernames, I ran shadowseidow to see if I could find any previous aliases associated with his ID.

Two usernames found:

· Username: 0xshadow9000

< p style="text-wrap: wrap;">Last check: 2024–01–02

· Username: shadowseidow

Last inspection: 2024–01–03

< img src="https://img.jinse.cn/7167153_watermarknone.png">

Joined in August 2015, has 37,000 followers, but only started tweeting on January 2, 2024

Strange The thing is, for a Twitter account created in August 2015, there isn't much information in it. So I then tried the token's account, seidowtoken, since it also seemed to be a recycled account (created in April 2012).

Found 4 usernames:

· Username: seitoshitoken

< p style="text-wrap: wrap;">Last check: 2023–12–29

· Username: seitadel

Last check: 2023–12–31

· Username: seidowtokeb

Last check: 2023–12–31

· Username: seidowtoken

Last Check: 2024–01–01

Bingo! Now we are making progress. I know there's a spelling mistake in Seidow's launch name, which should be a b instead of an n, as seen in Shadow's tweet below. This further confirms the results to date.

Tokeb - almost no signs of effort, not lazy at all Spell token correctly

A quick Twitter search for Seitadel and Seitoshitoken should yield some results.

Twitter search results for Seitoshitoken and Seitadel

As shown in the screenshot above As seen in , although all tweets have been deleted, some Twitter mentions have been updated to show the changed usernames. Unfortunately, I can't archive Twitter search results at wayback, so my results may differ from yours. But when I searched on January 7, 2024, both seidowtokeb and siedowtoken could be found in results related to these coins, and the timestamps matched the last check on the username tool. While browsing the post, I discovered that Coinhall linked to both coins.

· Seitoshi

sei1c0kz0nusfj0h94ps9kx3ky85llhs6emu5d5lreeplf4s82pect5snwygqg

https://coinhall.org/sei/sei1tqzqwfmkcd023c2v37kfkjmvc97tlsegpnx0mn4 d7ht5t7wknu4qy8t9h2

Added 5,500 SEI on December 29 liquidity and steadily increased by 10,896 SEI.

· Seitadel

sei1smx8lqqlpsnege6mynh4ucq94en43pwdf5qntrzaks8wkfjrg6mse8sutq

https://coinhall.org/sei/sei1n3uh9nc6y6zczwcd6xgxdhstl09chwcyfnvgkl3yf88 mq4nc9elq7h7zhy

Added 5,500 SEI on December 31 liquidity and increased by 6,083 SEI.

The audacity of this man is truly astounding. Reminds me of the old proverb, "Whoever smells a fart is a farter"

So far I have revealed that the Seidow Twitter account is related to two previous rug projects, but A brief look at the connected wallet revealed a more prolific scammer than I expected. When I dug deeper into where these wallets received their SEI from, I began to find dozens of rug projects, some launched before Seidow, and even some launched after. So I set out to map out all the connected wallets and rug projects I could find to see if any of them were related to the person I'd always believed to be holding 30% of Shadow.

The list of connected wallets and rug projects is endless (see full list), however, after hours of reviewing Seiscan, Shadow’s rug project Seitadel was finally discovered with 30% of the Someone is involved, and this is conclusive evidence.

Ruged Seitadel tokens and 30% Seidow buyers

It turns out that Shadow purchased the tokens from two different wallets, but sold the tokens early in one wallet while transferring all the tokens in the other wallet. The next steps are to see where those 302 million Seidow Tokens ended up and whether Shadow still holds them. I usually look at the holder list of a token to check the distribution and see where the token is being moved to. Unfortunately, Seiscan doesn't simply do this. So I again reached out to some friends for help and re-queried the holders of Seidow.

It looks like the token didn’t move very far. Checked on 1/7/24

When I started gathering this information on 1/7/24, Shadow had already started transferring tokens the day before, which I can only assume was To cover his whereabouts. He sent 302 million tokens here from the buyer’s wallet. He then went on to assign it as follows:

I have been able to see his wallet in the list of top holders, but as I continue to investigate, he continues to move coins. I know screenshots of Seidow's holder distribution have been circulating in some group chats, so I'm starting to suspect it's gotten back to Shadow. Over the next few days, I continued to monitor his wallet to see where he dispersed his coins.

Seidow holder list checked on January 9, 2024. I think this looks better?

I've highlighted a few wallets above that I was able to trace back to Shadow's original 30%. Since everything is starting to get mixed up on Seiscan right now, there's a good chance I'm missing something.

At the time of completing this reveal about Shadow, it appears that he has liquidated most of his holdings but still retains a top wallet as insurance. They showed screenshots of a conversation with a "J" claiming to be a 35% Seidow holder, considering it's impossible to fake such a conversation, or that this J is actually Shadow or a member of the team. The timing of this clearance coincides with the time they released a list of Dune holders. Coincidence? I reran Seidow's holder query to see how it differed from the dashboard they published. Oddly enough, Seidow's distribution looks much better on my side. When checking out their query, it's immediately clear why.

Seidow's holder list query excludes wallets holding more than 2%

Seidow's dashboard only queries holders with balances below 2%. This conveniently hides the first 3 holders, one of which we trace back to Shadow.

Hopefully it is now clear how hypocritical Shadow is and that his actions need to be stopped. He has gone from a serial con man to a massive con man who, with the massive following and network he has amassed, could destroy all of Sei. He has dumped tens of thousands of dollars on his holders and I'm sure he won't stop here. I know many people will be blinded by coin holder bias, and some may be quick to forgive, but if you continue to support him and his projects, I can guarantee you that you will have a terrible time.

The hypocrisy is shocking, but they are not wrong

I will use Some final information to wrap up the issue. The transaction from one of the linked rug wallets (which also happens to be the wallet he sent all the SEI to, which he just liquidated), I think was 3,052 SEI to Shadow's CEX, who then sent 2,052 SEI to the Seidow deployer (not that he had two hours Seidow released and destroyed before). I don't know what Shadow's obsession with the number 52 is, but you can see it's a common occurrence at the bottom of all the data I've collected.

I'm definitely missing some information I've gathered, but if you've made it this far and still need more evidence that Shadow is a liar, then I'm sorry you're nitpicking. Now, to end on a lighter note, here's a funny GIF showing some of his scams.

BlockBeats Note: The GIF image display can be viewed in the original text. The following is only one image from the GIF collection.

Shadow the ruggooor

Here are all the linked wallets and Shadows I found A complete list of the scams posted and the wallets he transferred SEI between. The SEI transferred in on 1/02/24 by sei1dw0tjgl8hn6u9trgyej3rruckem0vjvrhjts3x is connected to another wallet backed by CEX or a bridge, there is more to it than the scam below, but at this point I have all the information I need.

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