Meteora named as prime suspect in ZachXBT’s insider trading investigation

Meteora has the biggest odds of being the target of ZachXBT’s next big investigation. The on-chain researcher hinted he would drop data on a big protocol with evidence of insider trading. 

Meteora has the highest odds on Polymarket and is expected to become the target of the next big investigation by ZachXBT. Previously, the investigation was expected to target World Liberty Fi, leading to what the organization called a “FUD attack.”

ZachXBT was supposed to announce his research on February 26. The announcement immediately led to the creation of Polymarket pairs. Several protocols were mentioned as the potential target, including giants like Coinbase and Binance. ZachXBT assuaged some of the rumors after users pressured him for hints. 

Meteora odds are climbing to 53%

The odds of Meteora being the subject of investigation climbed to 53%, later dropping to a lower baseline of 45%. Even still, Meteora remains in the lead, following a brief period of early speculation on MEXC and Pump.fun. 

Meteora is one of the top exchanges in the Solana ecosystem, which has been the venue for trading the hottest meme tokens. Meteora is also known for providing USDC liquidity for most of its pairs. 

The market will resolve after ZachXBT announces the project, with a March 2 deadline for voting. Within days, the prediction pairs accrued over $5M in trading volumes, becoming one of the trending markets on the Polymarket landing page. 

Insider whale hints at Meteora

Meteora was also singled out by a prominent trader with a significant bet. The whale has over 100 former positions on Polymarket, mostly linked to crypto prices. 

In addition to the Polymarket bet, the whale’s address also points to other trading wallets. One of the wallets has built a short position on MET through Hyperliquid. The position uses 3X cross leverage, and currently carries an unrealized loss of $186K.

If ZachXBT announces Meteora officially, MET may sink further, turning the short position profitable. 

MET traded at $0.18, sinking by over 15% in the past 24 hours. The token is already reflecting the potential losses and reputation hit for Meteora if the suspicions prove true. 

Meteora currently carries $494M in liquidity, with around $500K in daily fees. The exchange produces relatively predictable daily fees and is in the green for the past few quarters, despite lagging behind Raydium and PancakeSwap.

The exchange also has a significant part of its liquidity locked in the TRUMP/USDC pool. The market was the main venue for trading Official Trump (TRUMP), as well as Melania (MELANIA). Those tokens were linked to insider trading, which led Meteora to an all-time high. 

As of 2026, Meteora’s influence has weakened, especially as Solana erased all of its gains from the 2024-2025 bull market and dipped below $80.