ZecBit - THIS IS A SCAM PROJECT TARGETING USERS
I have been following
@zec_bit very closely since the very beginning, including its founder,
@z1vex , who is behind the project.
At first, it was just an unknown NFT project, constantly running campaigns, collabs, and giving away 1/1 NFTs to KOLs to build its reputation.
After it started gaining attention, things gradually changed.
Previous collabs were ignored.
The 1/1 NFTs for KOLs were not distributed.
And more seriously, a series of issues directly involving users' money started to appear.
1/ WALLET-RELATED ISSUES
At first, ZecBit instructed users to use Zodl.
But just 2 hours before the mint, they suddenly asked everyone to switch to Noir Wallet.
What was the problem?
Zodl operates on mobile, and when the seed phrase is entered on a computer, it generates a new u1 wallet address.
This was entirely their mistake.
Yet they only gave collab managers around 2 hours to contact the GA winners and update their wallets.
2 hours is clearly not enough time to handle such an important change.
The initial mint window was only around 30 minutes for the WL round, while Zcash transactions can take 30 minutes to 1 hour to confirm.
If they had handled this properly, users should have been given at least half a day, or even a full day, to prepare.
The collab managers simply did not have enough time to contact all the winners and process the changes.
2/ FREE MINT - BUT USERS STILL HAD TO PAY
ZecBit advertised this as a FREE MINT.
Yet users still had to pay around $8 in transaction fees.
And for some users, the situation was even worse:
ZEC was deducted → but they never received the NFT.
So where exactly was the “FREE” mint?
3/ THE TEAM TOOK THE REMAINING NFTs
At the time of the WL mint:
~1.8K / 3.3K NFTs were minted.
When the public mint came, the team closed the mint and moved the remaining NFTs into their own wallets.
At the same time, they continued listing NFTs on the marketplace.
I personally saw periods where:
30–50 NFTs were listed at the same time.
The team continuously accepted offers to dump the NFTs.
Users were waiting for their money, while the team continued selling NFTs and receiving ZEC.
4/ USERS LOST MONEY
The situation can be summarized very simply.
BUYER
ZEC was deducted
→ NFT not received
SELLER
NFT was sold
→ Payment not received
And ultimately, the money went back to the dev wallets.
The team continuously posted announcements to reassure users and cover up what was happening.
Users submitted transactions, screenshots, and evidence to the team.
Nearly 3 weeks later, many users still had:
→ No NFT
→ No refund
The team continued posting announcements about building the website and providing support on X.
But ultimately:
Users still have not been refunded.
5/ 1/1 NFTs FOR KOLs WHILE USERS ARE STILL WAITING
After taking users' money, the project continued distributing 1/1 NFTs to major KOLs.
This appeared to be used to:
→ Silence criticism
→ Push the floor price
→ Continue selling NFTs on the market
Meanwhile, users were still waiting for their money.
6/ THE SHIELDED TRANSACTION ISSUE
There is an important technical point that everyone needs to understand.
u1 = private / shielded
t1 = transparent / publicly visible
ZecBit uses Zcash shielded transactions.
This means the sender, receiver, and transaction amount cannot be publicly verified in the same way as transparent transactions.
The team took advantage of this to cover up their wrongdoing.
7/ I CONTACTED THE FOUNDER
I personally bought an NFT and experienced this issue.
I contacted the team, and I was one of the few people who was actually able to reach the founder.
The founder acknowledged the issue.
But:
He did not resolve it.
And if even people who managed to contact the founder directly still haven't received their refunds...
What about everyone else?
After everything I have personally experienced:
I firmly state that ZecBit is a SCAM project targeting its users.
If you are one of the users who were affected or lost funds through ZecBit, please leave a comment below. I will collect and document all the evidence.