Blockchain researcher ZachXBT has declined to offer support to holders of the memecoin called Complex (SIMPLE) on the Base blockchain, following the sudden shutdown of the project on April 4.
The project announced its decision to sunset Complex, stating that recent instances of harassment had created an unmanageable environment that negatively affected the mental well-being of its team members. However, users expressed dissatisfaction with this explanation, questioning the developers’ use of “mental health” as the primary reason for shutting down the project.
SIMPLE tokens will remain locked until a future date, allowing users to sell their holdings. However, the token has experienced a significant decline in value, losing over 90% in the past 24 hours and now having a negligible market capitalization.
Some users reached out to ZachXBT for assistance, but he was also dissatisfied with the requests for help. He expressed his disinterest in meme coins and highlighted his preference for helping genuine victims rather than those who willingly gamble on such projects.
Another user showed admiration for ZachXBT, recognizing the challenges he faces in exposing scams and the backlash that comes with it. They praised his contributions to the space and acknowledged that it wouldn’t be the same without him.
The Complex memecoin project appears to have ended shortly after its launch on March 30, with a peak of 3,013 tokenholders. Memecoins have seen significant returns during the ongoing crypto bull market, with an average of 1,312.6% among the top tokens by market capitalization.
Related: A trader generated a $2 million profit within one hour by investing $13,000 in memecoins, as the frenzy around these coins continues.