Sam Thapaliya

Full Report

Key Points

• Sam Thapaliya is the founder of Zebec Protocol, a blockchain-based platform focused on streaming payments, payroll, and financial transactions in Web3.
• He has been implicated in multiple crypto scandals, including market manipulation and token dumping, particularly in the $38 million MOVE token incident with Movement Labs.
• Allegations include fraud, suppressing negative information via bots, and dumping on retail investors in projects like Zebec’s $ZBCN token.
• His associations with figures like Galen Law-Kun and Rushi Manche have raised concerns about conflicts of interest and insider dealings.
• Despite his entrepreneurial background in AI and patents, his reputation in the crypto space is tarnished by ongoing investigations and community backlash.

Overview

Sam Thapaliya is a Nepali entrepreneur and angel investor based in the U.S., known primarily as the founder of Zebec Protocol, launched in 2021. With a background in AI, video analytics, and holding four U.S. patents, he transitioned into Web3 to address inefficiencies in traditional finance through blockchain. Zebec focuses on instantaneous, continuous streaming payments for payroll, investments, and transactions, built initially on Solana and expanding to other chains. Thapaliya positions himself as an optimist in crypto, with prior roles including Chief Architect and Co-Founder at ASMI. He grew up in Nepal, studied in California, and has built a $100 million company by age 24.+ Founder Q&A with Sam Thapaliya of Zebec

Allegations and Concerns

• Fraud and Token Dumping in Zebec: Accused of being under investigation for fraud and dumping $ZBCN tokens on retail investors, with claims that Zebec is not partnering with Ripple ($XRP) or Stellar ($XLM) as implied. Community members have labeled him and his team as “scam” artists using investor funds for personal lifestyles.
• Market Manipulation in Movement Labs Scandal: Implicated as a “shadow advisor” in the $38 million MOVE token dump, where insiders allegedly manipulated prices through secret contracts and hidden middlemen. This led to Coinbase delisting the token amid controversy.
• Suppression of Information: Zebec has been accused of using bots to suppress negative feedback and maintain a positive image.
• Broader Questionable Activities: Involved in multiple “questionable schemes,” including infighting and scrutiny over airdrop whitelists tied to his business partners.

Customer Feedback

Positive reviews highlight Thapaliya’s innovative vision for Web3 payments, with interviews praising his optimism and the potential of Zebec for scaling financial tools. For example, in a podcast, he discussed building payroll apps on Solana, emphasizing real-world utility.

Negative feedback is prevalent in crypto communities, focusing on scam perceptions. One user stated: “I think founder Sam Thapaliya and team Zebec Protocol is SCAM. Im feel not good with my choice: Nepal people is good!” Others accuse him of being a “con artist fraudster” in analyses of Zebec, citing market manipulation and investor losses. X posts echo this, calling him and associates “scammers” who should be barred from the industry.

Risk Considerations

• Financial Risks: High potential for investor losses due to alleged token dumps and market manipulation, as seen in the MOVE scandal where prices were artificially inflated then crashed. Retail investors in $ZBCN face risks from unverified partnerships and value erosion.
• Reputational Risks: Association with Thapaliya could damage credibility, given widespread scam labels and bot-suppression tactics that erode trust in the crypto community.
• Legal Risks: Ongoing investigations into fraud and manipulation could lead to regulatory actions, delistings (e.g., Coinbase’s MOVE halt), or lawsuits, especially with ties to high-profile backers like Trump’s World Liberty Financial.

Business Relations and Associations

• Key Partnerships: Founded Zebec with Head of Growth Simon Babakhain; accused alongside him of fraudulent activities. Co-founder at ASMI, focusing on tech architecture.
• Notable Associates: Business partner with Galen Law-Kun of Rentech/Web3Port, central to the Movement scandal. Served as informal advisor to Movement Labs’ co-founders Rushi Manche and Cooper Scanlon, described as a “shadow co-founder.” Involved in curating airdrops and internal decisions.
• Broader Network: Angel investor in Web3; connections through podcasts and interviews with crypto figures.

Legal and Financial Concerns

• No public records of bankruptcies or unpaid debts were found, but Thapaliya is under scrutiny for legal issues tied to crypto operations.
• Investigations and Scandals: Actively investigated for fraud in Zebec, including false partnership claims with Ripple and Stellar. Implicated in Movement’s market-making scandal, with internal probes questioning his role in secret deals that incentivized price manipulation. This has led to token delistings and loss of trust from exchanges like Coinbase.
• Potential Lawsuits: Community and insider allegations of scams could escalate to civil suits; his involvement in “questionable schemes” raises risks of regulatory enforcement from bodies like the SEC.

Risk Assessment Table

Sam Thapaliya presents a mixed profile as an innovative crypto entrepreneur with a strong technical background, but the accumulation of serious allegations—ranging from market manipulation to fraud—suggests significant risks for any involvement. The Movement scandal, in particular, highlights patterns of insider dealings and token dumps that have damaged investor confidence and drawn regulatory scrutiny. While his vision for Web3 payments has garnered some praise, the negative community sentiment and lack of resolution to these claims indicate a high-risk individual in an already volatile industry. Investors and partners should exercise extreme caution, prioritizing independent due diligence to mitigate potential financial and legal pitfalls.