Left Hand Exposes Millions in Black Money, Right Hand Launches 600k to Zero: Beaver's Double Life
- Core Viewpoint: After winning a million-dollar article contest on platform X, well-known meme coin player Beaver was accused by on-chain analysis firms of being a "serial rug puller." His actions of issuing and manipulating tokens for profit have sparked a profound ethical debate within the crypto community about whether "rug pulls without promotion should be condemned."
- Key Elements:
- Beaver is accused of issuing the token $SIAS on pump.fun through associated addresses. The token's market cap soared to $6 million in a short time before rapidly plummeting to zero, with Beaver allegedly profiting around $600,000 by sniping through multiple addresses.
- In response to the accusations, Beaver adopted a provocative stance, claiming this was not his most successful project. This attitude, however, garnered support from some community members, reflecting the "you win some, you lose some" subculture within the crypto space.
- Supporters argue that since Beaver did not use his personal influence to promote $SIAS, his actions do not constitute fraud but rather a form of high-risk gambling.
- Beaver's other side is as the creator of the anti-corruption data website Somaliscan, which tracks massive U.S. government spending and corruption, earning him a reputation among certain groups.
- The core controversy of this incident lies in how to define the moral and responsibility boundaries of rug pull behavior that relies solely on on-chain operations for price manipulation without any public promotion.
On February 4th, X announced the winner of its million-dollar article competition. @beaverd won the $1 million prize with his piece, "Deloitte, a $74 billion cancer metastasized across America."
In the English-speaking crypto community, Beaver is a relatively well-known meme coin player, so his victory was celebrated. However, the day before yesterday, Bubblemaps posted a tweet accusing him of being a "serial rugger," alleging he profited $600,000 through price manipulation.
Bubblemaps stated that they discovered a linked address "2mQB8o" from Beaver's public Solana address, which launched the token $SIAS on pump.fun. $SIAS rapidly reached a market cap of $6 million within 7 minutes of deployment, only to crash to zero just 10 minutes later after a large sell-off by the dev.
After the crash, the token's X account was also deleted.
Based on further on-chain analysis, Bubblemaps pointed out that Beaver was not only the dev but also used four other addresses to snipe the token, making a total profit of $600,000.
Finally, Bubblemaps also noted that all tracked addresses associated with Beaver didn't launch just this one token but many others, all of which also crashed to zero.
In response to Bubblemaps' accusations, Beaver's reply was as wild as his Milady profile picture:
"Cry me a river. Also, this isn't even in my top 5 most successful rugs."
It was precisely this kind of response that earned Beaver considerable support. In the English-speaking crypto community, Beaver is popular for being "fun," similar to figures like Bob Lax and mitch. To use a perhaps not entirely accurate analogy, he's somewhat like Liang Xi in the Chinese crypto community.
This is an interesting manifestation of crypto subculture. Both in Chinese and English-speaking circles, a significant portion of players hold the view of "you win some, you lose some" – meme coins are essentially a gamble. If devs can make money through clever means, that's their skill. If you choose to gamble, you are responsible for yourself.
"Launching shitcoins is a victimless crime."
Another viewpoint is that Beaver never promoted $SIAS through his X account (Bubblemaps' accusation also acknowledges this, though it argues that Beaver's audacity is shown by profiting from the token via his public address). Therefore, Beaver is not guilty of "fraud"; those who bet against him simply lost.
Players siding with Beaver even mocked the market performance of Bubblemaps' token $BMT, arguing that compared to Beaver, Bubblemaps—which conducted an ICO and made promises—is the illegal scam that should be held accountable:
Beyond the interesting crypto subculture, another reason for Beaver's popularity is his project, Somaliscan. Somaliscan is an open-source data website that tracks over $55 trillion in US government fiscal spending, exposing massive corruption in US government refugee resettlement programs, particularly aid to Somalia. The site's data tracking covers US government expenditures, political donations to officials, healthcare system fund allocations, federal loans, and summaries of individuals linked to the Epstein files. Beaver's million-dollar-winning article exposed the massive corruption involving Deloitte, which received $40 billion in US government contracts but caused an estimated $34 billion in losses—a discovery he made while building the Somaliscan database.
Consequently, Beaver is seen as a hero by right-leaning players in the English-speaking (especially American) crypto community. After X announced his million-dollar prize, he immediately promoted Somaliscan and included the contract address (CA) in the tweet's comments:
Setting aside emotional factors, this incident has indeed reignited a long-standing debate in the crypto community: if someone launches a rug and manipulates prices but does not promote it, should they be condemned?
This debate will not end unless the market itself ceases to be brutal.
