On September 18, 2026, an old case concerning the project Raidparty was brought back to light: several Chinese crypto media outlets cited the latest allegations from on-chain tracker ZachXBT, stating that wallet addresses associated with 7zarc received a total of 4,870 ETH from addresses related to a scam exit involving about $70 million from Raidparty, amounting to approximately $15 million at current prices. The more controversial aspect is that this batch of ETH marked as "exit funds" did not remain in the original addresses but was continuously transferred along the on-chain path to recharge addresses for several centralized exchanges, leaving a complete trace from project funds to exchange accounts on-chain. A case viewed as a "runaway" project had been silent for years, but now the associated funds were suddenly reignited in 2026, pushing 7zarc and Raidparty back into the spotlight and raising the question of "how far back can old cases be pursued and how far can on-chain evidence go" in the Web3 world for all participants.
ZachXBT Names 7zarc Again
After the funding path was pieced together, ZachXBT chose to name 7zarc once more. He publicly stated that through on-chain tracking, it was found that wallet addresses associated with 7zarc received a total of 4,870 ETH, approximately $15 million, and these ETH came from on-chain addresses he had previously marked as related to the Raidparty exit scam of about $70 million. According to him, this batch of funds first flowed out from Raidparty-related addresses, then aggregated through several intermediary wallets into 7zarc's associated address, before being split and transferred to recharge addresses of multiple centralized exchanges, forming a complete closed-loop path from project funding to exchange accounts. However, ZachXBT framed all of this within the scope of "on-chain evidence", and this accusation has not yet been substantiated by any judicial or regulatory conclusions, leaving the legal trajectory still unknown.
On September 18, 2026, Odaily Planet Daily, PANews, and several other Chinese crypto media collectively echoed this accusation, bringing the detail "7zarc-associated wallets received and transferred 4,870 ETH" to a broader Chinese reader audience. The reports repeatedly emphasized that no officially confirmed response or denial from 7zarc had appeared in the current public information, nor had any confirmed exchange actions or law enforcement measures been reported, resulting in information asymmetry that further fueled the controversy. This old case was brought back to light and re-examined in the Chinese community, while the different interpretations of the same on-chain evidence became a key variable in shaping public opinion.
7zarc's Four-Year Disappearance and Reappearance
If we pull back the view from the single transaction of 4,870 ETH along its on-chain path, we see a longer timeline. According to ZachXBT, 7zarc disappeared from public view after 2022, while the Raidparty project gradually became one of the typical cases of "exit scams" during the same time period. The project's official channels have remained silent for a long time, team members no longer spoke publicly, and movements of related funds were rarely reported on a large scale. This event, which had sparked controversy at the time, slowly slipped out of the mainstream narrative, leaving only the label of "about $70 million exit scam" being repeatedly cited, while the follow-up trajectories of the parties involved and the on-chain funds were covered by a layer of hazy temporal dust.
By 2026, ZachXBT stated that 7zarc had reappeared in public, sharply contrasting with its previous "invisibility" period of about four years. Almost in the same round of attention, he pointed out through on-chain tracking that addresses previously related to the Raidparty exit scam had transferred 4,870 ETH to 7zarc-associated wallets, which were then transferred to recharge addresses of several centralized exchanges, completing the full path from project-related addresses to CEX. Before this, the background of the related funds of Raidparty long being "not seen moving on a large scale" echoed the sudden allegations against 7zarc reappearing and the new transfers of its wallets. This detail became particularly noteworthy. Whether these two timelines are merely coincidental or have deeper causal connections remains at the level of ZachXBT's accusations and the community's various interpretations.
The Transfer Path of 4,870 ETH
Following the on-chain screenshots released by ZachXBT, the path of the 4,870 ETH was broken down into three key nodes: the starting point is a group of old addresses he marked as "related to the Raidparty exit scam of about $70 million", the middle section is a wallet cluster identified by him as related to 7zarc, and the endpoint is the recharge addresses of several centralized exchanges. In his narration, this batch of ETH flowed out in bulk from Raidparty-related addresses into a few intermediary wallets, and then within a short period of time, was concentrated into the same batch of "7zarc-associated wallets", forming a clearly directional funding chain.
To bind this chain to the old case, ZachXBT's method is to overlay address associations and temporal sequences: on one hand, he claims that the wallets receiving the 4,870 ETH have a "co-occurrence" feature with the wallets he previously marked as used by 7zarc, appearing in the same group of counterparties; on the other hand, the movement of this batch of ETH occurred after the Raidparty exit event and during the prolonged period of 7zarc's invisibility, thereby connecting the narrative of "old case funds → suspected personal wallet → CEX" temportally. The publicly available information mainly stops at the level of "a total of 4,870 ETH, approximately $15 million, ultimately flowing to recharge addresses of several centralized exchanges"; however, details such as which specific platforms, how each transfer was split, and when exactly it was credited have not been disclosed by current reports, meaning the on-chain funding direction is relatively clear but the off-chain account ownership and subsequent destinations remain unresolved.
Exchanges as Key Checkpoints in Old Cases
Looking back at the path disclosed by ZachXBT, the 4,870 ETH on-chain story was still a "transparent world" before entering the recharge addresses of multiple centralized exchanges: the source addresses, recipient wallets, and transfer times could be reviewed transaction by transaction. Once crossed past the recharge address threshold, the funds switch from public ledgers to the internal ledgers of the exchanges, which not only cuts off subsequent on-chain traces but also means that these platforms have become one of the few actual checkpoints in the pursuit of old cases. Many media outlets also reminded that the funds ultimately flowing into CEX theoretically provides leverage points for risk control, compliance, and potential freeze actions; however, whether this step has been utilized and how it has been utilized currently has no public answers.
After ZachXBT revealed the path and the Chinese media focused the reports, exchanges faced what seemed to be a passive compliance and public opinion pressure: on one side, the on-chain evidence has pointed to "suspected scam-related funds," while on the other hand, no existing materials have shown any specific platform's public response or measures taken, lacking verified information from law enforcement or regulatory authorities, making it difficult for outsiders to determine whether the accounts behind these recharge addresses have been flagged, reviewed, or even restricted. For the community, the funds only linger between on-chain addresses, remaining a "historic debt recorded in the blocks"; however, once it enters an exchange, it intersects with real identities, account systems, and potential paths for recovery. This is why every confirmed incoming record to CEX is magnified, as it concerns whether this old case has a chance to transition from purely on-chain narratives into accountability and liquidation in the real world.
Long-Tail Risks of Old Cases
From Raidparty being accused of being involved in an exit scam of about $70 million to wallets associated with 7zarc being tracked to receive and transfer 4,870 ETH, subsequently directing to several centralized exchanges, this funding chain—completed only after a long period of silence from the project—brings back to on-chain scrutiny a case that many regarded as long resolved. For Web3 games and broader crypto projects, these stories of "being able to be appended by on-chain evidence years later" inherently erode long-term trust: users may be forced to repeatedly recall whether handing funds over to a highly anonymous team with centralized control over funds created a risk of today's narrative being resurrected. More practically, as of now, public materials have not shown any confirmed formal interventions by law enforcement agencies and no verified response from 7zarc has been observed; numerous Chinese media reports on September 18, 2026, leave the matter in the stage of "on-chain tracking + amplification of public opinion." The next steps—whether ZachXBT continues to supplement on-chain evidence, whether relevant exchanges publicly state their positions, and whether parties associated with Raidparty or 7zarc respond—will determine whether this old case continues to remain in on-chain tracking and public discourse or moves toward clearer accountability and subsequent pathways.
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