Originally published on: November 28, 2024
Blockchain investigator ZachXBT has made allegations against a former professional Fortnite player and blockchain security analyst from Australia, suggesting their involvement in memecoin scams that resulted in the theft of approximately $3.5 million.
In a recent thread shared by ZachXBT, it was revealed that wallet addresses linked to the former pro player known as Serpent had significant exposure to various Pump.fun memecoin scams that exploited compromised social media accounts. Serpent, who was previously part of the esports organization “Overtime” before being expelled over cheating allegations, was identified as a security analyst and the founder of a threat mitigation system named Sentinel.
According to ZachXBT, a wallet address associated with Serpent’s project called “ERROR” was directly connected to multiple account takeovers, including those of popular figures like McDonald’s, Usher, and Dean Norris. The investigation also uncovered that Serpent was using funds from these scams for online gambling activities, with deposits and withdrawals being linked to the compromised addresses.
Upon the release of the initial findings, Serpent reportedly began deleting all posts from his X account, raising suspicions further. In the past, Serpent had positioned himself as a cybersecurity analyst and even shared guides on how scammers target crypto users through various deceitful tactics.
These allegations have shed light on the risks associated with memecoin investments and the importance of thorough research before engaging in such ventures. As the crypto landscape continues to evolve, it is essential for users to exercise caution and stay informed to avoid falling victim to fraudulent schemes. Stay tuned for more updates on this developing story and subscribe to our newsletter for the latest insights and trends in the digital asset space.
