Crypto detective ZachXBT accuses ex-pro gamer Serpent of aiding in $3.5M memecoin scams, linking him to 9 crypto hacks and gambling stolen funds.
Cryptocurrency detective ZachXBT has charged a former professional gamer and cybersecurity analyst with assisting in stealing $3.5 million from multiple memecoin schemes. According to the on-chain detective’s probe, the Australian guy was linked to nine cryptocurrency hacks.
A Crypto Scammer Who Was Once a Pro Gamer
ZachXBT claimed on Wednesday that Serpent, a former professional Fortnite player, assisted in stealing and gambling the money from many memecoin scams planned this year. The crypto detective revealed the relationship between wallets associated with Serpent and those associated with the cryptocurrency schemes in an X threat.
The investigation revealed that the former professional gamer’s wallets had “high exposure” to addresses implicated in many X and Instagram account takeovers (ATOs) over the past few months.
These include Usher, Wiz Khalifa, Andy Ayrey, SPX 6900, three additional X accounts being taken over, and the Instagram profiles of McDonald’s and Kabosu Owner being hacked. During the hacking, $3.5 million was stolen from unsuspecting investors who purchased the fraudulent memecoins introduced on Solana’s token launchpad Pump.fun.
Before the hacker rug-pulled, for example, McDonald’s fictitious coin, GRIMACE, had a $25 million market valuation and had transferred about $700,000 to two wallets. According to the on-chain data analysis, these two addresses had connections to other wallets used in the other eight scams, which transferred the illicitly obtained money through a sequence of transactions that culminated at the Ecb5vs casino deposit address.
According to the crypto detective, Serpent started an ERROR project in March 2024. According to the post, the former professional gamer was banned from X because of this effort. The same casino deposit address was used to receive 23 ETH that the ERROR deployer supplied to two quick exchanges in October.
“Every month, Serpent wagers millions of dollars on Roobet, Stake, BC Game, and Shuffle, often screen sharing with friends on Discord,” ZachXBT noted. According to screenshots, the on-chain detective collected the money, and Serpent waged at least $300,000 in a single day this month.
The History Of Alleged Scams At Serpent
The report also added that the former professional Fortnite player was fired from Overtime, an esports company, in June 2020 after being detected cheating.
ZachXBT claims that he co-founded the NFT project DAPE in 2022, which was likewise rug-pulled. Serpent stated that it was creating Sentinel, the “first-ever anti-mass DM,” and that it was a cyber security analyst “specializing in marketing and security.”
After the investigator’s investigation, the accused altered his identity and profile image and removed all posts from his X account. This leads the crypto detective to believe there may be connections to other ATOs he still needs to connect with.
Notably, the latest contentious livestream drama has rekindled debates surrounding the cycle’s central story and criticized the memecoin industry and the Solana-based launchpad utilized for Serpent’s purported scams.
Pump.fun came under fire for “allowing” the abuse of its live broadcasting function to advertise a recently developed memecoin through dangerous, violent, and problematic means.
The platform’s live broadcasting feature was momentarily disabled due to this event. Furthermore, industry leaders like Changpeng Zhao joined the discussion about the usefulness of memecoins, describing the well-liked tokens as “a little weird” and advising the community to concentrate on creating “real blockchain” initiatives.
With new internet superstars reaching considerable milestones in the memecoin mania and the market’s bullish rally, tokens still appear to be the top choice for many investors.
