Audit log

Every state-changing event for MemeCore (M Token): moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-06-25 12:04:47Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 428,802,640

   sig

   gfpwE4EMb5K5…9YPM2Sagcopyexplorer ↗

   hash

   3Jjq4AqcSJ8P…h7Nj5njmcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (21493 B) ▸

   {"actor":"system:backfill","investigation_id":"74dcf1ea-8a79-4544-a102-9e911f312b98","kind":"publish","page_slug":"memecore-m-token","published_at":"2026-06-25T12:04:47.398Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"MemeCore (M Token)","sections":[{"content":"On June 25, 2026, MemeCore's M token fell approximately 74-80% within a 24-hour period. Price declined from approximately $2.92 at its recent high to an intraday low of $0.50-$0.51, with the token trading near $0.68-$0.74 at time of reporting. The collapse wiped approximately $3 billion in market capitalization, dropping the market cap from approximately $3.5-$3.8 billion to below $1 billion. The token's ranking by market capitalization fell to approximately 55th-72nd. Trading volume during the crash was reported at approximately $21-30 million, a thin figure relative to the scale of the price movement. The wider cryptocurrency market declined only 1.64% during the same period, making M's losses substantially more severe than general market conditions. No confirmed catalyst emerged — no exploit, hack, or official announcement from MemeCore explained the collapse.","heading":"Price Collapse and Market Impact","severity":"critical","sources":[{"credibility":1,"name":"MemeCore's M token suddenly crashes 80% with no clear trigger — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/06/25/memecore-s-m-token-suddenly-crashes-80-with-no-clear-trigger"},{"credibility":2,"name":"MemeCore Token Drops Below $1 Billion Market Cap After 76% Crash — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/markets/crypto/articles/memecore-token-drops-below-1-080743504.html"},{"credibility":2,"name":"MemeCore sheds nearly $3 billion in value as M token collapses 76% — Invezz","type":"news_article","url":"https://invezz.com/pk/news/2026/06/25/memecore-sheds-nearly-dollar3-billion-in-value-as-m-token-collapses-76percent/"},{"credibility":3,"name":"MemeCore's M Token Plunges 76% After ZachXBT's Insider Supply Warnings Resurface — Cryip","type":"news_article","url":"https://cryip.co/memecore-m-token-crash-zachxbt-insider-supply-warnings/"}]},{"content":"On-chain investigator ZachXBT, alongside analysts identified as Mlm and Wazz, alleged that insiders associated with MemeCore controlled more than 90% of the total M token supply. ZachXBT publicly challenged the project to 'provide just one piece of data supporting a $6 billion market cap as a top-20 token — and why do insiders hold over 90% of the supply.' According to reporting based on Arkham Intelligence data, a Binance deposit address allegedly held approximately 41.3% of the token supply, while a separate wallet controlling 50 million M tokens accounted for approximately 21.77% of circulating supply. The token contract address on Binance Smart Chain is reported as 0x22b1458e780f8fa71e2f84502cee8b5a3cc731fa. Circulating supply was approximately 1.31 billion of 5.38 billion total tokens. Analysts described the situation as a 'ghost market cap' — a valuation figure not supported by freely tradeable, liquid tokens in public hands. These allegations remain unconfirmed by any court filing or regulatory action as of June 2026.","heading":"Alleged Insider Supply Concentration","severity":"critical","sources":[{"credibility":2,"name":"ZachXBT Targets Memecore, Demands Answers on Insider Control of Over 90% of Supply — Bloomingbit","type":"news_article","url":"https://en.bloomingbit.io/feed/news/110309"},{"credibility":2,"name":"ZachXBT Allegations Expose Memecore's Shocking 90% Insider Supply — CryptoRank","type":"news_article","url":"https://cryptorank.io/news/feed/9588b-zachxbt-memecore-insider-supply-allegations"},{"credibility":2,"name":"MemeCore (M) Under Fire as Onchain Probe Reveals 90% Insider Control — CryptoTicker","type":"news_article","url":"https://cryptoticker.io/en/memecore-m-insider-supply-scandal-analysis/"},{"credibility":2,"name":"ZachXBT asks MemeCore to explain valuation and token supply — TradingView/CoinTelegraph","type":"news_article","url":"https://www.tradingview.com/news/cointelegraph:a42e22ae9094b:0-zachxbt-asks-memecore-to-explain-valuation-and-token-supply/"}]},{"content":"ZachXBT identified $7.9 million in alleged suspicious withdrawals from Kraken, linked to MemeCore's spot listing on that exchange on July 3, 2025. According to the investigator's analysis, a wallet believed to be connected to the MemeCore team received 200 million M tokens at the token generation event, then routed a portion of those tokens to Kraken deposit addresses before dispersal across 18 newly created wallets. These 18 wallets collectively held approximately 11.7 million M tokens, valued at approximately $39.8 million at the time of the April 2026 investigation. On-chain data further indicated that no single on-chain transfer on BSC exceeded $50,000 in the two weeks leading up to the June 25 collapse, while total decentralized exchange liquidity for M was reported at under $100,000 according to Dexscreener data — a stark contrast to the multi-billion dollar centralized exchange valuation. These findings have not been confirmed by any regulatory body or law enforcement agency.","heading":"Suspicious On-Chain Withdrawal Patterns","severity":"critical","sources":[{"credibility":2,"name":"ZachXBT Questions Kraken Listing Amid $7.9M Memecore Flows — CryptoTimes","type":"on_chain","url":"https://www.cryptotimes.io/2026/04/20/zachxbt-questions-kraken-listing-amid-7-9m-memecore-flows/"},{"credibility":2,"name":"ZachXBT presses MemeCore over $6B valuation and token supply concentration — crypto.news","type":"news_article","url":"https://crypto.news/zachxbt-presses-memecore-over-6b-valuation-and-token-supply-concentration/"},{"credibility":2,"name":"ZachXBT Calls Out MemeCore After M Token Crashes 75%, Demands Answers From Binance and Bybit — CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/zachxbt-memecore-m-token-crash-binance-bybit-listing/"}]},{"content":"MemeCore's M token was listed for spot trading on Binance Alpha, Kraken, Bitget, BingX, HTX, and Hashkey on July 3, 2025. Binance and Bybit listed M for perpetual futures trading. Following the June 25, 2026 collapse, ZachXBT publicly called on these exchanges to explain their listing decisions: 'I ask the community to demand answers from Binance & Bybit about why M was listed for perps and why Kraken & Bitget listed M spot as these highly manipulated tokens continue to give our industry a bad reputation.' No exchange had publicly responded to these demands as of the time of reporting. Kraken's earlier response to ZachXBT's April 2026 warnings was characterized as a general statement about commitment to client protection and compliance, without addressing the specific allegations. The listing of a token with alleged near-zero decentralized liquidity, a heavily concentrated insider supply, and a multi-billion dollar market cap at listing raises questions about the screening processes of major centralized exchanges.","heading":"Exchange Listing Due Diligence Concerns","severity":"high","sources":[{"credibility":2,"name":"MemeCore Announces $M Token Listing on Major Centralized Exchanges — PR Newswire","type":"official","url":"https://www.prnewswire.com/news-releases/memecore-announces-m-token-listing-on-major-centralized-exchanges-302498169.html"},{"credibility":2,"name":"ZachXBT Calls Out MemeCore After M Token Crashes 75%, Demands Answers From Binance and Bybit — CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/zachxbt-memecore-m-token-crash-binance-bybit-listing/"},{"credibility":2,"name":"MemeCore Crashes 75% As ZachXBT Questions Exchange Listings — CryptoAdventure","type":"news_article","url":"https://cryptoadventure.com/memecore-crashes-75-as-zachxbt-questions-exchange-listings/"}]},{"content":"MemeCore describes itself as a Layer 1 blockchain designed to 'structure the meme coin economy,' positioning meme coins as sustainable economic assets rather than purely speculative instruments. The project launched its mainnet on February 12, 2025. The M token is described as a utility token powering gas fees, staking, governance, and a 'Proof of Meme' consensus model that claims to reward content virality, on-chain activity, and community participation. The project's CEO is identified as Jun Ahn, who previously founded 0xLootBox, an investment network, and held roles at Ledger and Chains.Asia. Cherry Hsu is identified as Chief Business Development Officer. The MemeCore Foundation announced a strategic investment from several venture capital firms in March 2025, including IBC Group, Waterdrip Capital, AC Capital, Catcher VC, K300 Ventures, Wagmi Ventures, and Click Capital. User acquisition was alleged by ZachXBT and others to rely heavily on 'InfoFi' — incentivized social media campaigns that pay participants to post content — rather than organic on-chain adoption.","heading":"Project Background and Team","severity":"medium","sources":[{"credibility":2,"name":"MemeCore Launches Layer 1 Blockchain to Structure the Meme Coin Economy — The Block","type":"news_article","url":"https://www.theblock.co/press-releases/369977/memecore-launches-layer-1-blockchain-to-structure-the-meme-coin-economy"},{"credibility":2,"name":"MemeCore Announces $M Token Listing on Major Centralized Exchanges — PR Newswire","type":"official","url":"https://www.prnewswire.com/news-releases/memecore-announces-m-token-listing-on-major-centralized-exchanges-302498169.html"},{"credibility":2,"name":"ZachXBT Questions MemeCore $6B Valuation and Supply — CoinLaw","type":"news_article","url":"https://coinlaw.io/zachxbt-memecore-6b-valuation-token-supply/"}]},{"content":"Analysts highlighted an extreme mismatch between MemeCore's centralized exchange market cap and its on-chain liquidity. Prior to the June 2026 collapse, M carried a market capitalization exceeding $5.5 billion and a fully diluted valuation of approximately $14-18 billion, while 24-hour trading volumes reportedly struggled to exceed $30 million. Total DEX liquidity for M was reported at under $100,000, according to Dexscreener data, meaning the token's valuation was almost entirely supported by centralized exchange price discovery. On-chain data indicated no single BSC transfer of M exceeded $50,000 in the two weeks before the crash. ZachXBT questioned how M 'achieved a multi-billion dollar valuation' given these liquidity characteristics. One analyst described the phenomenon as a 'ghost market cap' made possible by the alleged concentration of tokens in insider wallets that were not actively trading on public markets.","heading":"Valuation and Liquidity Mismatch","severity":"high","sources":[{"credibility":2,"name":"MemeCore (M) Under Fire as Onchain Probe Reveals 90% Insider Control — CryptoTicker","type":"news_article","url":"https://cryptoticker.io/en/memecore-m-insider-supply-scandal-analysis/"},{"credibility":3,"name":"MemeCore's M Token Plunges 76% After ZachXBT's Insider Supply Warnings Resurface — Cryip","type":"news_article","url":"https://cryip.co/memecore-m-token-crash-zachxbt-insider-supply-warnings/"},{"credibility":2,"name":"ZachXBT presses MemeCore over $6B valuation and token supply concentration — crypto.news","type":"news_article","url":"https://crypto.news/zachxbt-presses-memecore-over-6b-valuation-and-token-supply-concentration/"}]},{"content":"As of June 25, 2026, MemeCore had issued no public statement addressing the price collapse, ZachXBT's allegations, or the on-chain findings. The team did not respond to media requests for comment as reported by CoinDesk. Kraken, when previously confronted with the April 2026 allegations, provided only a general statement about its commitment to client protection and compliance, without addressing the specific on-chain concerns. Binance and Bybit had not publicly addressed ZachXBT's demands for explanation regarding their perpetual futures listings. The absence of official communication in the wake of a multi-billion dollar value destruction event is itself noted by multiple reporting outlets.","heading":"Official and Team Responses","severity":"high","sources":[{"credibility":1,"name":"MemeCore's M token suddenly crashes 80% with no clear trigger — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/06/25/memecore-s-m-token-suddenly-crashes-80-with-no-clear-trigger"},{"credibility":2,"name":"MemeCore Token Drops Below $1 Billion Market Cap After 76% Crash — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/markets/crypto/articles/memecore-token-drops-below-1-080743504.html"}]},{"content":"ZachXBT's investigation into MemeCore was reportedly prompted in part by the prior collapse of RaveDAO (RAVE), a separate project that shared structural characteristics with MemeCore. According to reporting, RAVE's insiders controlled approximately 95% of its supply; a single multisig wallet transferred millions of tokens to exchanges, triggering a liquidity crisis that crashed the token from approximately $28 to below $1 in under 48 hours, erasing approximately $6 billion in market value. ZachXBT published an investigation of RaveDAO in April 2026 and subsequently turned scrutiny toward MemeCore after identifying similar alleged patterns of concentrated supply and inorganic growth. The parallel between the two collapses — both involving alleged >90% insider supply concentration, InfoFi-driven marketing, multi-billion dollar CEX-supported valuations, and near-zero DEX liquidity — forms a key part of the case made by critics.","heading":"Comparison to RaveDAO (RAVE) Collapse","severity":"high","sources":[{"credibility":2,"name":"ZachXBT Scrutinizes MemeCore's Insider-Heavy Supply After RaveDAO Crash — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/04/20/zachxbt-scrutinizes-memecores-insider-heavy-supply-after-ravedao-crash/"},{"credibility":2,"name":"MemeCore (M) Under Fire as Onchain Probe Reveals 90% Insider Control — CryptoTicker","type":"news_article","url":"https://cryptoticker.io/en/memecore-m-insider-supply-scandal-analysis/"}]}],"sources_used":[{"credibility":1,"name":"MemeCore's M token suddenly crashes 80% with no clear trigger — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/06/25/memecore-s-m-token-suddenly-crashes-80-with-no-clear-trigger"},{"credibility":2,"name":"MemeCore Token Drops Below $1 Billion Market Cap After 76% Crash — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/markets/crypto/articles/memecore-token-drops-below-1-080743504.html"},{"credibility":2,"name":"ZachXBT Calls Out MemeCore After M Token Crashes 75%, Demands Answers From Binance and Bybit — CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/zachxbt-memecore-m-token-crash-binance-bybit-listing/"},{"credibility":2,"name":"MemeCore (M) Under Fire as Onchain Probe Reveals 90% Insider Control — CryptoTicker","type":"news_article","url":"https://cryptoticker.io/en/memecore-m-insider-supply-scandal-analysis/"},{"credibility":2,"name":"MemeCore sheds nearly $3 billion in value as M token collapses 76% — Invezz","type":"news_article","url":"https://invezz.com/pk/news/2026/06/25/memecore-sheds-nearly-dollar3-billion-in-value-as-m-token-collapses-76percent/"},{"credibility":2,"name":"ZachXBT Questions Kraken Listing Amid $7.9M Memecore Flows — CryptoTimes","type":"on_chain","url":"https://www.cryptotimes.io/2026/04/20/zachxbt-questions-kraken-listing-amid-7-9m-memecore-flows/"},{"credibility":2,"name":"ZachXBT Scrutinizes MemeCore's Insider-Heavy Supply After RaveDAO Crash — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/04/20/zachxbt-scrutinizes-memecores-insider-heavy-supply-after-ravedao-crash/"},{"credibility":2,"name":"ZachXBT presses MemeCore over $6B valuation and token supply concentration — crypto.news","type":"news_article","url":"https://crypto.news/zachxbt-presses-memecore-over-6b-valuation-and-token-supply-concentration/"},{"credibility":2,"name":"ZachXBT Allegations Expose Memecore's Shocking 90% Insider Supply — CryptoRank","type":"news_article","url":"https://cryptorank.io/news/feed/9588b-zachxbt-memecore-insider-supply-allegations"},{"credibility":2,"name":"ZachXBT asks MemeCore to explain valuation and token supply — TradingView/CoinTelegraph","type":"news_article","url":"https://www.tradingview.com/news/cointelegraph:a42e22ae9094b:0-zachxbt-asks-memecore-to-explain-valuation-and-token-supply/"},{"credibility":2,"name":"ZachXBT Questions MemeCore $6B Valuation and Supply — CoinLaw","type":"news_article","url":"https://coinlaw.io/zachxbt-memecore-6b-valuation-token-supply/"},{"credibility":2,"name":"ZachXBT Targets Memecore, Demands Answers on Insider Control of Over 90% of Supply — Bloomingbit","type":"news_article","url":"https://en.bloomingbit.io/feed/news/110309"},{"credibility":2,"name":"MemeCore Token Faces ZachXBT Scrutiny Over 90% Insider Holdings Claim — Blockchain.news","type":"news_article","url":"https://blockchain.news/news/memecore-token-zachxbt-insider-holdings-scrutiny"},{"credibility":2,"name":"MemeCore Announces $M Token Listing on Major Centralized Exchanges — PR Newswire","type":"official","url":"https://www.prnewswire.com/news-releases/memecore-announces-m-token-listing-on-major-centralized-exchanges-302498169.html"},{"credibility":2,"name":"MemeCore Launches Layer 1 Blockchain to Structure the Meme Coin Economy — The Block","type":"news_article","url":"https://www.theblock.co/press-releases/369977/memecore-launches-layer-1-blockchain-to-structure-the-meme-coin-economy"},{"credibility":2,"name":"MemeCore Crashes 75% As ZachXBT Questions Exchange Listings — CryptoAdventure","type":"news_article","url":"https://cryptoadventure.com/memecore-crashes-75-as-zachxbt-questions-exchange-listings/"},{"credibility":3,"name":"MemeCore's M Token Plunges 76% After ZachXBT's Insider Supply Warnings Resurface — Cryip","type":"news_article","url":"https://cryip.co/memecore-m-token-crash-zachxbt-insider-supply-warnings/"}],"summary":"MemeCore is a Layer 1 blockchain project whose native M token collapsed 74-80% on June 25, 2026, erasing approximately $3 billion in market value with no confirmed exploit, hack, or public announcement. On-chain investigator ZachXBT and associated analysts had previously flagged alleged insider control exceeding 90% of the token supply, $7.9 million in suspicious Kraken withdrawals to 18 newly created wallets, and near-zero decentralized exchange liquidity, raising serious questions about the token's valuation legitimacy and the due diligence performed by listing exchanges including Binance, Bybit, Kraken, and Bitget.","timeline":[{"date":"2025-02-12","event":"MemeCore mainnet launched","source":"The Block / PR Newswire","source_url":"https://www.theblock.co/press-releases/369977/memecore-launches-layer-1-blockchain-to-structure-the-meme-coin-economy"},{"date":"2025-03-01","event":"MemeCore Foundation announced strategic investment from IBC Group, Waterdrip Capital, AC Capital, and other venture capital firms","source":"CoinLaw","source_url":"https://coinlaw.io/zachxbt-memecore-6b-valuation-token-supply/"},{"date":"2025-07-03","event":"M token listed for spot trading on Binance Alpha, Kraken, Bitget, BingX, HTX, and Hashkey","source":"PR Newswire official announcement","source_url":"https://www.prnewswire.com/news-releases/memecore-announces-m-token-listing-on-major-centralized-exchanges-302498169.html"},{"date":"2025-08-30","event":"M token reached reported all-time high of approximately $1.15, a 2,400% increase from listing price","source":"CryptoAdventure","source_url":"https://cryptoadventure.com/memecore-crashes-75-as-zachxbt-questions-exchange-listings/"},{"date":"2025-09-09","event":"MemeCore announced launch of Layer 1 blockchain to structure the meme coin economy","source":"The Block","source_url":"https://www.theblock.co/press-releases/369977/memecore-launches-layer-1-blockchain-to-structure-the-meme-coin-economy"},{"date":"2026-03-21","event":"ZachXBT published initial allegations questioning MemeCore's $6 billion market cap and alleged 90%+ insider supply concentration; M token fell approximately 8% in response","source":"CryptoRank","source_url":"https://cryptorank.io/news/feed/9588b-zachxbt-memecore-insider-supply-allegations"},{"date":"2026-04-20","event":"ZachXBT published detailed on-chain findings identifying $7.9 million in alleged suspicious Kraken withdrawals to 18 newly created wallets linked to suspected team addresses; findings followed the RaveDAO collapse","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/04/20/zachxbt-questions-kraken-listing-amid-7-9m-memecore-flows/"},{"date":"2026-06-25","event":"M token collapsed 74-80% in 24 hours, falling from approximately $2.92 to a low of $0.50-$0.51, erasing approximately $3 billion in market cap with no confirmed catalyst, exploit, or official announcement","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2026/06/25/memecore-s-m-token-suddenly-crashes-80-with-no-clear-trigger"},{"date":"2026-06-25","event":"ZachXBT publicly demanded answers from Binance, Bybit, Kraken, and Bitget regarding their listing decisions for M; MemeCore issued no public statement","source":"CCN","source_url":"https://www.ccn.com/news/crypto/zachxbt-memecore-m-token-crash-binance-bybit-listing/"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision e82bc243-fd6d-443b-8d42-039499ede1d4copy
2. #2rescoreby systemsystem

   2026-10-10 18:41:16Z
   Score: 9 → 26 (+17)
   Rescored under Scoring v2, the published formula (avoid.net/scoring): 9 → 26. Problems weighed by who is responsible: the subject's own conduct −65, problems around the subject, caused by others −7.8; legitimacy credit long-running +2; no established finding that it defrauded anyone, so it stays out of the red band.
   anchoranchored

   chain

   ●mainnet-betaslot 455,360,137

   sig

   4vnH1e7k1d6z…WmJH1hZ6copyexplorer ↗

   hash

   6YJj376EhrT9…TKmP2fU7copysha256 → base58

   verifying row…full verify ↗

   canonical bytes (687 B) ▸

   {"actor":"system","decided_at":"2026-10-10T18:41:16.233Z","decision":"rescore","investigation_id":"74dcf1ea-8a79-4544-a102-9e911f312b98","new_score":26,"page_slug":"memecore-m-token","prev_score":9,"reason":"Rescored under Scoring v2, the published formula (avoid.net/scoring): 9 → 26. Problems weighed by who is responsible: the subject's own conduct −65, problems around the subject, caused by others −7.8; legitimacy credit long-running +2; no established finding that it defrauded anyone, so it stays out of the red band.","score_delta":17,"score_model":"v2","sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 4086e641-56d0-40e2-bef6-ff4f57a40d3ccopy