Solana Trader Turns $700 into $450k — A Bit Too Easily

A Story By Bubblemaps

He potentially did not want us to see what we’re now reporting, much less share it with thousands of readers. Too late!

From a meager $700, the trader of this story sold for a total of $450k, which we first covered in this thread on May 20.

The token $ZACK was launched on Solana on May 15 and quickly gained traction through $15M trading volume within 24 hours.

Many on crypto-Twitter quickly suspected that Edward Constantinescu, a.k.a. Zach Morris on Twitter, was behind the launch, which Constantinescu himself denied via a tweet: “This is not my coin and I better get my cut!”.

In 2022, Edward Constantinescu was charged for $114M securities fraud, alongside seven other finance gurus from the Atlas Discord community.

Constantinescu promoted $ZACK on launch and on numerous occasions the following days through Twitter.

Soon after the team at Bubblemaps began the investigation into $ZACK and its holders, things started to look suspicious.

The top trader of $ZACK, using the wallet FLKqdq, managed to turn 4.3 SOL into over 2400 SOL within just five days. This wallet received tokens from five separate wallets that bought the token early through, a platform known for boosting early investments in new tokens, often with short life spans.

As shown on the above image, we found that wallet FLKqdq received 20M $ZACK from wallet 39YQJq, which is part of the largest cluster of the Zack Morris bubble map, holding 35.7% of the total supply (yellow-green bubbles in the below image).

The current top holder, 4QyhW, holding 4% of $ZACK, is also connected to the cluster through the wallet GEsHqbR, meaning that this cluster in total may control 40% of all the supply.

Though there’s no concrete proof of this belonging to the team, insiders, or similar, such large clusters and connections like these are very alarming in our experience. There’s a high risk that the owners of these connected wallets know each other. If they all were to start selling their tokens at the same time, the remaining holders would face horrific losses.

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