ZachXBT указывает на Ripple, Cardano и Hedera как на схемы обогащения для инсайдеров Translation: ZachXBT points to Ripple, Cardano, and Hedera as insider enrichment schemes

The operational models of Ripple, Cardano, and Hedera bear similarities to financial pyramids, according to on-chain investigator ZachXBT.

«I am currently not assisting the XRP community and will ridicule anyone who reaches out to me personally with such requests,» he stated, further emphasizing his disapproval of MLM networks.

In a now deleted post that sparked a heated discussion, ZachXBT provided data on the fund transfers of Ripple co-founder Chris Larsen. Since July 17, a wallet associated with him withdrawn 50 million XRP (approximately $175 million) to four different wallets, with around $140 million directed to exchanges.

Some attribute the asset’s correction to Larsen’s actions. After reaching an all-time high of $3.65 in mid-July, the price of XRP has retreated by more than 20%. At the time of writing, the altcoin trades at $2.8.

The on-chain sleuth claimed that Ripple holders «provide no value to the industry, apart from offering liquidity for insiders.» He further stated that similar observations apply to Cardano, Pulsechain, and Hedera.

In a separate post, ZachXBT advised victims of scams within the XRP Ledger network to report them to IC3, a division of the FBI dedicated to gathering and investigating cybercrime complaints, and to track stolen funds through exchanges. He stressed that Ripple is unable to assist its community, describing its fund as «greedy.»

«Unlike other blockchains, the Ripple Foundation no longer finances public goods and does not support the community at all,» the expert emphasized.

Users had mixed reactions to ZachXBT’s statements, with some expressing surprise at his criticism.

«I like Zach, but I thought he should realize that moving mountains in this industry requires capital. Implementation costs money, and honestly, it seems XRP is on the verge of being widely adopted by governments and financial sectors worldwide. That scale is the true ‘free’ value,» a community member by the name of Jive_Turkey17 commented.

A user under the pseudonym cryptopainter drew a parallel with Vitalik Buterin:

«How is this different from when Vitalik sells Ethereum, or [Jeff] Bezos sells Amazon shares? Founders deserve compensation.»

However, many supported ZachXBT, calling Ripple a «tired story» lacking genuine value, which managed to profit at the expense of investors.

«He is right. 100%. Ripple Labs regularly dumps XRP—the tokens that the company acquired during the early stages of the blockchain launch. This is an unfair distribution,» noted crypto enthusiast Colin Talks Crypto.

It’s worth recalling that in early August, Ripple’s CTO David Schwartz responded to criticisms regarding the decentralization of the XRP Ledger.