'Cry me a river': X $1M article winner accused of profiting $600K from Solana memecoin rug pulls

After winning X’s $1 million article competition, crypto creator @beaverd is facing allegations from blockchain analytics firm Bubblemaps, which alleges a wallet linked to the account generated roughly $600,000 from a Solana memecoin launch and was connected to dozens of similar tokens.

The account, known as @beaverd, recently won X’s creator competition, earning $1 million for what was described as the best article on the platform. The result was widely celebrated across crypto circles as a mainstream hit. However, claims of past rug pulls linked to wallets allegedly associated with the account quickly surfaced.

Memecoin pump and dumps

In a thread posted Tuesday, Bubblemaps said it traced a public wallet allegedly linked to the account and connected it to the launch of a token called SIAS on Pump.fun, a Solana-based memecoin creation platform.

According to Bubblemaps, the token briefly surged to a market capitalization of around $6 million before collapsing to zero shortly after launch and deleting its social media presence.

Bubblemaps further alleged that the wallet associated with @beaverd launched the token, accumulated positions through additional wallets, and extracted approximately $600,000 in profits. The firm claimed the account had launched dozens of similar memecoins, all of which eventually went to zero.

Bubblemaps is a blockchain analytics platform that visualizes token holder clusters and wallet interactions to identify potential insider activity, coordinated trading, or token concentration patterns. Its analysis is based on publicly available onchain data.

So far, the allegations remain unproven, and no independent confirmation of wallet ownership has been provided. The account holder responded directly to the thread on X, writing: "cry me a river," followed by "also these aren't even the top 5 greatest hits."

Pump.fun, the platform referenced in the thread, allows users to launch tokens on Solana with minimal technical requirements. The site became a focal point during previous memecoin surges in 2024 and 2025, as traders repeatedly complained that many launches were extractive, short-lived, and prone to insider selling.

Activity across Solana’s memecoin ecosystem has since cooled. Meme token migration and daily revenue on the platform have declined since the January 2025 peak, when the Official Trump coin was launched, according to The Block's data. Analysts at Standard Chartered recently also lowered their 2026 Solana price target, citing what they described as a structural shift away from speculative memecoins toward micropayments and transactional use cases.