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New meme coin LICK linked to alleged $40M US government theft; experts urge caution

A new meme coin called LICK has drawn attention on the crypto world. A meme coin is a type of cryptocurrency that often starts as a joke or a fun idea. People sometimes buy it hoping it will become popular quickly. In this case, LICK was created on the Solana network, and some researchers say its first days are a sign of risk and possible problems.

On-chain data, which is information recorded on the blockchain, links the creation of LICK to a person named John Daghita. He is known online as “Lick.” He has been accused of stealing about 40 million dollars from the United States government. On-chain data means that the details about who created the token and how money moved can be seen by anyone who looks at the blockchain — a big, public digital ledger. This is different from data kept in private bank records. The fact that a single person might control a large piece of the total LICK supply worries experts because it can make the project less fair and more risky for others who buy the token later.

Block­chain analytics company Bubblemaps wrote that Daghita recently launched LICK on Pump.fun, a platform that helps people start new meme coins on the Solana network. Solana is a blockchain that helps run digital money and apps. Pump.fun acts like a marketplace where new tokens can be shown and sold. Bubblemaps also noted that Daghita has been live-streaming on Telegram to promote the token. Telegram is a popular messaging and social app where people can share messages, videos, and live streams with groups of followers.

A key concern raised by Bubblemaps is that one wallet — a digital address that holds crypto — appears to own about 40% of all LICK coins. When one person owns that large a share, it creates what experts call centralization. In decentralized systems, many people share control. If one wallet has most of the token, that person could influence prices, make decisions that help themselves, or crash the market. This is why Bubblemaps called the situation “unhinged,” a strong way of saying it looks very risky and unusual to many observers.

Days after Bubblemaps published their findings, an investigator known as ZachXBT shared a detailed report. He has built a reputation for looking at on-chain evidence to connect tokens and wallets to bigger stories about theft and fraud in the crypto world. ZachXBT began with information from a leaked private chat. In that chat, a person calling themselves “John” was seen sharing wallet balances and moving large sums of cryptocurrency during an argument with another person. The phrase “band for band” that popped up in his report refers to a cybercrime habit where people show off their money in real time to prove wealth and intimidate rivals. In these online crime circles, showing big balances and moving money around can be a way to brag or pressure others to back down.

After studying the video, ZachXBT said the wallets shown in the recording could be linked to more than 90 million dollars in suspected thefts. In one sequence, a wallet received 1,066 wrapped Ether (WETH) on November 20, 2025. WETH is a version of Ethereum’s currency that is made to fit into certain technical standards. It helps people use Ethereum-style money on different platforms. ZachXBT traced this wallet back to another wallet that had received about 24.9 million dollars from a United States government address in March 2024.

The story also mentions Bitfinex, a well-known crypto exchange. ZachXBT claimed that the same wallet had received more than 63 million dollars from victims and government-related addresses in late 2025. It also received about 4,170 ETH, which valued around 12.4 million dollars at that time, from another exchange called MEXC. These links to big sums of money raise questions about where the funds came from and where they went next.

According to ZachXBT, the person behind LICK had a public habit of talking about wealth on Telegram. He pointed to messages that included identifiers tied to those conversations. There have long been rumors in crypto crime circles that the person in question could be John Daghita. He was reportedly arrested in September 2025, but investigators have said they still need more proof to confirm the identity. The report also raised questions about how anyone could access government-seized funds. One clue is that John’s father owns CMDSS, a company that has a contract with the U.S. Marshals Service. This federal agency helps with courts and the seizure of assets, among other duties. It is not clear how anyone could gain access to seized funds through this connection, and authorities are looking into it.

Public officials have confirmed that U.S. government investigators are looking into the matter. They have not released a final conclusion, but the case has drawn attention in the crypto world and among law enforcement agencies. The question of who created LICK and how much control such a person holds over the token could determine whether people should be cautious about investing in it. As always in crypto markets, new tokens can rise quickly, but there is also a risk of scams, theft, or sudden changes in price. Investors are advised to do careful research and consider the possible risks before buying tokens like LICK.

What this means for people who buy crypto tokens is that not all projects are equally safe, and some may have problems with fairness and control. If a small group or a single person has a lot of influence, other buyers might find it hard to make money, or the project might be more easily manipulated. It is also important to follow official statements from authorities and reputable researchers. When people see large concentrations of tokens in one wallet, they should think about what could happen if that person decides to sell a big portion at once. That kind of move could push prices down and hurt many small buyers.

For now, the LICK situation remains active and evolving. The involvement of people connected to government-seized funds, and the ties to a major crypto exchange, add layers of complexity that go beyond a simple launch on a launchpad. Investors should stay informed and careful. The crypto world often moves fast, and new information can change the story quickly.

In short, LICK is a new token on Solana that many are watching because of its links to a person accused of large thefts and because a large portion of its supply is held by a single wallet. The case shows how on-chain data — information recorded on the blockchain — can be used to investigate and connect different pieces of the story. It also highlights the ongoing questions about how funds from government seizures are managed and who has access to them. As investigations continue, the crypto community will watch closely to see what happens next.

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Note: This article summarizes ongoing reporting from crypto researchers and investigators. The information may change as new details emerge. Always look for multiple trusted sources before making investment decisions.