The hottest topic in the recent crypto circle is the event of a ZEC long position whale publicly appearing. From showcasing holdings to making bullish statements, and then verifying identity publicly, the entire process has sparked widespread attention. However, behind this phenomenon, what truly deserves reflection is: when faced with those sudden "whale" appearances, how should we judge whether they are genuine market participants or carefully disguised scammers?

The verification method used by that whale is actually quite representative. He first publicly shared his on-chain address, then transferred 0.00123 ETH to a designated address to prove his identity. The underlying logic of this operation is quite straightforward: on the blockchain network, the true ownership of an address depends on the control of its private key. Being able to successfully transfer from address A to address B directly proves that the sender has the private key of address A, and therefore owns that address. Compared to simply taking a screenshot of holdings, this method is much more credible.

Currently, there are quite a few pseudo-whales in the market who use "holding screenshots"