On February 4th, X announced the winner of its million-dollar article contest. @beaverd won the $1 million prize with his article "Deloitte, a $74 billion cancer metastasized across America".
Beaver is a relatively well-known meme coin player in the English-speaking world, so his award was a source of excitement for the crypto. However, two days ago, Bubblemaps tweeted accusations against him, calling him a "serial rugger" who profited $600,000 by manipulating the coin's price.
Bubblemaps On-Chain Tracking: Market Cap Surges to $6 Million in 7 Minutes, Drops to Zero in 10 Minutes
Bubblemaps reported finding a linked address, "2mQB8o," based on Beaver's public Solana address. This linked address issued the token $SIAS on pump.fun . $SIAS quickly reached a market capitalization of $6 million within 7 minutes of deployment, then rapidly dropped to zero within the next 10 minutes due to large-scale selling by devs.
After the token was reduced to zero, the X account associated with it was also logged out.
Bubblemaps further pointed out from its on-chain analysis that Beaver was not only a dev, but also used four other addresses to snipe the token, making a total profit of $600,000.
Finally, Bubblemaps also pointed out that all the Beaver-related addresses tracked had not only issued this one token, but many others, and all of them had gone to zero.
Beaver responded: "Let the tears flow like a river for me."
Beaver's response to Bubblemaps' accusations was as wild as his Milady profile picture:
"Let tears flow for me. Besides, this isn't even one of my five most successful projects."
It was precisely Beaver's response that garnered him considerable support. In fact, within the English-speaking world, Beaver is popular for being "funny," similar to figures like Bob Lax and Mitch. To use a somewhat inappropriate analogy, he's a bit like Liang Xi in the Chinese-speaking world.
This is an interesting manifestation of the subculture in the crypto. In both Chinese and English-speaking communities, a significant number of players hold the view that "you have to accept the consequences of your gamble"—meme coins are inherently a gamble, and it is the developers' skill to make money from interesting angles. Since they have taken the gamble, they must be responsible for themselves.
"Issuing shit coin is a crime that does not infringe upon others."
Another viewpoint argues that Beaver did not promote $SIAS through his X account (Bubblemaps also acknowledged this in its accusations, but also pointed out that Beaver even profited from trading the coin through his public address, which is a display of audacity), so Beaver is not considered "fraudulent," but rather that those who bet against him lost to him.
Players siding with Beaver even mocked the market performance of the Bubblemaps token, arguing that compared to Beaver, Bubblemaps, which conducted an ICO and made promises, was an illegal scam and should be held accountable.
The Other Side of Whistleblower Heroes: Somaliscan and Anti-Corruption Databases
Beaver's popularity stems not only from the fascinating subculture within the crypto but also from his project, Somaliscan. Somaliscan is an open-source data website that tracks over $55 trillion in US government spending, exposing massive corruption in US refugee resettlement programs (particularly aid to Somalia). The website's data tracking covers US government spending, political donations to government officials, healthcare system funding, federal loans, and information on individuals linked to the Epstein file, among other things. Beaver's million-dollar article exposed the massive corruption that led to Deloitte receiving a $40 billion contract from the US government but incurring a $34 billion loss (his estimate), a discovery he made while building the Somaliscan database.
Therefore, Beaver was hailed as a hero by right-wing English-speaking gamers (especially in the US). He also immediately promoted Somaliscan after X announced he had won the million-dollar article prize, and included CA in the comments section of his tweet.
Is it considered fraud if a cryptocurrency is issued without promotion?
Putting aside emotional factors, this incident has indeed reignited a long-standing controversy in the crypto—should one be criticized for launching an offering and manipulating prices without any publicity?
This controversy will not end unless the market becomes less ruthless.
