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{"actor":"system:backfill","investigation_id":"2cff596f-a74a-4dee-980d-cc3291abc398","kind":"publish","page_slug":"wallstreetbets","published_at":"2026-05-19T02:32:53.887Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"WallStreetBets","sections":[{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]}],"sources_used":[],"summary":"The 'WallStreetBets' brand has been exploited in at least two distinct crypto fraud incidents: a 2021 Telegram pre-mine scam using a fake 'WallStreetBets – Crypto Pumps' channel that stole over $2.1 million in BNB and ETH, and a 2023 Ethereum meme token (WSB Coin) that surged to a $50 million market cap before insiders allegedly dumped $635,000 worth of tokens within days of launch, collapsing the price by over 90%. Neither token was authorized by Reddit or the r/WallStreetBets subreddit, and ZachXBT publicly identified the alleged perpetrators in the 2023 incident.","timeline":[{"date":"2021-04-19","event":"WallStreetBets forum administrators warn members about fraudulent offers using the subreddit's name in crypto promotions.","source":"","source_url":"https://cryptopotato.com/members-of-wallstreetbets-forum-alleged-in-telegram-crypto-scam-stealing-2m-in-bnb-and-eth/"},{"date":"2021-05-04","event":"Approximately 3,451 BNB (worth ~$2.1 million) withdrawn from the 'WallStreetBets – Crypto Pumps' Telegram scam wallet. Approximately 151.4 ETH also reported stolen. Total losses estimated at over $2.6 million.","source":"","source_url":"https://www.coindesk.com/markets/2021/05/05/wallstreetbets-members-may-have-lost-over-2m-to-telegram-crypto-scam-report"},{"date":"2021-05-05","event":"CoinDesk reports on the Telegram 'WallStreetBets – Crypto Pumps' scam. Bloomberg confirms no affiliation with the official subreddit. The Telegram channel is deleted.","source":"","source_url":"https://www.bloomberg.com/news/articles/2021-05-04/wallstreetbets-members-targeted-in-telegram-cryptocurrency-scam"},{"date":"2022-11-01","event":"WSB Coin founder reportedly contacts ZachXBT months before the token's eventual launch — a detail ZachXBT later notes in his May 2023 investigation.","source":"","source_url":"https://beincrypto.com/wallstreetbets-meme-coin-wsb-alleged-rugpull/"},{"date":"2023-05-02","event":"WSB Coin launches on Ethereum, self-described as the 'official unofficial memecoin of r/wallstreetbets.' The token allocates 10% to a community treasury and 5% to moderators, claiming no team allocation.","source":"","source_url":"https://coinedition.com/wallstreetbets-wsb-token-tanks-90-amid-rug-pull-allegations/"},{"date":"2023-05-04","event":"WSB Coin reaches a reported peak market capitalization of approximately $50 million within three days of launch. Shortly after, ZachXBT publicly reports that zjz.eth (Jordan Zazzara) sold approximately 6.86 billion WSB tokens for 334 ETH (~$635,000) via Uniswap. Co-signer identified as Noor Al-Enaney (OIP / @is_unpopular). Token price collapses over 90% within hours.","source":"","source_url":"https://cointelegraph.com/news/wallstreetbets-mod-dumps-meme-coin-worth-635k-in-alleged-rug-pull"},{"date":"2023-05-04","event":"WSBMod issues public threats of police and FBI action against zjz.eth and @is_unpopular, calling them '100% guilty scammers.' zjz.eth counter-alleges that WSBMod secretly siphoned ~$25,000 via undisclosed airdrops.","source":"","source_url":"https://u.today/wallstreetbets-wsb-coin-update-main-suspect-offers-refund-and-tells-his-story"},{"date":"2023-05-05","event":"zjz.eth publicly offers to create a refund mechanism for pre-dump token holders. Token price remains approximately 92.8% below its all-time high.","source":"","source_url":"https://u.today/wallstreetbets-wsb-coin-update-main-suspect-offers-refund-and-tells-his-story"}]},"v":1}