crypto detective ZachXBT has accused a former professional gamer and cybersecurity analyst of helping steal $3.5 million from numerous memecoin scams. The chain detective's investigation revealed a connection between the Australian man and nine cryptocurrency hacks.
Former professional gambler turned cryptocurrency scammer
On Wednesday, ZachXBT alleged that former professional Fortnite player Serpent helped steal and gamble funds from several memecoin scams orchestrated this year. In an x threat, the crypto detective exposed the connection between wallets linked to Serpent and those linked to crypto scams.
the researcher <a target="_blank" href="https://x.com/zachxbt/status/1861775015382790308″ target=”_blank” rel=”noopener nofollow”>explained that some wallets related to the former professional player had “high exposure” to addresses involved in several x and instagram account takeovers (ATOs) in recent months.
These include the hacks of the instagram accounts of the owner of McDonald's and Kabosu and the acquisition of Usher, Wiz Khalifa, Andy Ayrey, SPX 6900 and three other x accounts. The hacks led to the theft of $3.5 million from unsuspecting investors who purchased the fraudulent memecoins launched on Solana's token launch platform, Pump.fun.
<img data-recalc-dims="1" decoding="async" class="size-large wp-image-345459 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/11/Crypto-Sleuth-accuses-professional-player-of-stealing-35-million.jpeg" alt="crypto” width=”980″ height=”359″ srcset=”https://bitcoinist.com/wp-content/uploads/2024/11/GdUzJZPXEAAI3Vb.jpeg?w=1168 1168w, https://bitcoinist.com/wp-content/uploads/2024/11/GdUzJZPXEAAI3Vb.jpeg?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/11/GdUzJZPXEAAI3Vb.jpeg?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/11/GdUzJZPXEAAI3Vb.jpeg?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/11/GdUzJZPXEAAI3Vb.jpeg?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/11/GdUzJZPXEAAI3Vb.jpeg?w=1140 1140w” sizes=”(max-width: 980px) 100vw, 980px”/>
Hacks allegedly connected to Serpent. Source: ZachXBT
For example, the fake McDonald's token, GRIMACE, reached a market capitalization of $25 million before the hacker retreated, sending around $700,000 to two wallets. The on-chain data analyzed showed that these two addresses had links to other wallets involved in the other eight scams, which moved the ill-gotten funds through a series of <a target="_blank" href="https://x.com/zachxbt/status/1861450263925559399″ target=”_blank” rel=”noopener nofollow”>transfers which ended up at a casino deposit address, Ecb5vs.
The crypto detective noted that Serpent launched a project called ERROR in March 2024. According to the post, this project was canceled and the former professional player was banned from x. However, the ERROR implementer sent 23 eth in October to two instant exchanges, received at the same casino deposit address.
ZachXBT noted that Serpent “bets millions of dollars on Roobet, Stake, BC Game, and Shuffle each month, and frequently screenshares with friends on Discord.” Screenshots obtained by the network detective showed that Serpent bet at least more than $300,000 in a single day this month.
Serpent's story about alleged scams
In addition to the allegations, the publication detailed that the former pro-Fortnite player was released from esports organization Overtime in June 2020 after he was allegedly caught cheating.
In 2022, he co-founded the nft project DAPE, which was also taken down, according to ZachXBT. Serpent claimed to be a cybersecurity analyst “specializing in marketing and security” and to be developing Sentinel, the “first anti-mass DM.”
Since the investigator's report, the defendant deleted all posts from his x account and changed his name and profile photo. Based on this, the crypto detective suspects potential links to other ATOs that he has not yet connected.
<img data-recalc-dims="1" loading="lazy" decoding="async" class="size-large wp-image-345463 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/11/1732889161_793_Crypto-Sleuth-accuses-professional-player-of-stealing-35-million.jpeg" alt="crypto” width=”671″ height=”660″ srcset=”https://bitcoinist.com/wp-content/uploads/2024/11/GdZalzKWoAAMgci.jpeg?w=1290 1290w, https://bitcoinist.com/wp-content/uploads/2024/11/GdZalzKWoAAMgci.jpeg?w=427 427w, https://bitcoinist.com/wp-content/uploads/2024/11/GdZalzKWoAAMgci.jpeg?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/11/GdZalzKWoAAMgci.jpeg?w=671 671w, https://bitcoinist.com/wp-content/uploads/2024/11/GdZalzKWoAAMgci.jpeg?w=64 64w, https://bitcoinist.com/wp-content/uploads/2024/11/GdZalzKWoAAMgci.jpeg?w=75 75w, https://bitcoinist.com/wp-content/uploads/2024/11/GdZalzKWoAAMgci.jpeg?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/11/GdZalzKWoAAMgci.jpeg?w=1140 1140w” sizes=”auto, (max-width: 671px) 100vw, 671px”/>
Serpent's x account changes. Source: ZachXBT
It is worth noting that the memecoin sector and the Solana-based launchpad used for the alleged Serpent scams have come under fire for the recent controversial livestream saga, reigniting discussions about the main narrative of the cycle.
As Bitcoinist reported, Pump.fun faced backlash for “allowing” the misuse of its live streaming feature to promote newly created memecoin using harmful, violent, and disturbing tactics.
This incident temporarily closed the platform's live streaming option. Additionally, industry figures like Changpeng Zhao entered the conversation about the usefulness of memecoins, calling the popular tokens “a little weird” and urging the community to focus on building “real blockchain” projects.
However, the tokens apparently remain the number one choice of many investors, with new internet sensations achieving massive milestones amid the memecoin craze and the market's bullish rally.
<img data-recalc-dims="1" loading="lazy" decoding="async" class="size-large wp-image-345450 aligncenter" src="https://technicalterrence.com/wp-content/uploads/2024/11/Crypto-Sleuth-accuses-professional-player-of-stealing-35-million.png" alt="crypto, Solana, SOL, SOLUSDT” width=”980″ height=”524″ srcset=”https://bitcoinist.com/wp-content/uploads/2024/11/SOLUSDT_2024-11-28_10-41-38.png?w=1102 1102w, https://bitcoinist.com/wp-content/uploads/2024/11/SOLUSDT_2024-11-28_10-41-38.png?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/11/SOLUSDT_2024-11-28_10-41-38.png?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/11/SOLUSDT_2024-11-28_10-41-38.png?w=980 980w, https://bitcoinist.com/wp-content/uploads/2024/11/SOLUSDT_2024-11-28_10-41-38.png?w=750 750w” sizes=”auto, (max-width: 980px) 100vw, 980px”/>
Solana (SOL) is trading at $236 in the weekly chart. Source: SOLUSDT on <a target="_blank" href="https://www.tradingview.com/x/eiNOeFVg/" target="_blank" rel="noopener nofollow">TradingView
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