The prominent on-chain sleuth ZachXBT has published new evidence linking a well-known member of the sneaker resale community, known as 7zarc, to the infamous Raidparty rug pull. According to blockchain data, addresses controlled by 7zarc reportedly received a significant portion of the stolen funds, totaling 4,870 ETH, which was valued at approximately $11 million at the time of the incident. This development comes as the individual recently resurfaced online after a four-year period of total public inactivity.
Tracing the $11 Million Ethereum Flow
The investigation centers on the movement of Ethereum (ETH) assets that were extracted during the Raidparty project collapse. ZachXBT’s analysis indicates that the funds were not held in cold storage but were instead systematically distributed across various Centralized Exchange (CEX) deposit addresses. This method is often utilized by bad actors to obfuscate the trail of transactions and eventually liquidate digital assets into fiat currency.
- Identified funds: 4,870 ETH
- Estimated valuation: $11,000,000
- Recipient: Wallet addresses linked to the alias 7zarc
- Destination: Multiple CEX platforms for potential liquidation
Rug pulls are a form of exit scam in the decentralized finance (DeFi) and NFT sectors where developers abandon a project and flee with investors' funds.
Resurgence of 7zarc After Four Years
The timing of these findings coincides with the unexpected return of 7zarc to social media. After disappearing from public view in 2022, shortly after the Raidparty incident occurred, the user reappeared in September 2026. ZachXBT has publicly called for an explanation regarding the flow of these illicit funds, questioning why millions of dollars from a documented exploit ended up in accounts associated with the sneaker community figure.
7zarc disappeared from public view in 2022 and reappeared in September 2026. An explanation is required for the flow of these funds to their personal deposit addresses.
The identification of these transactions adds a layer of accountability to an incident that had remained largely stagnant for years. While the crypto industry continues to face challenges regarding security and fraudulent schemes, on-chain forensics remain a critical tool for identifying the parties involved in large-scale thefts. As of now, the accused party has not provided a formal public response to the allegations or the specific transaction data presented by the detective.
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