A former professional Fortnite player, Serpent, is accused of orchestrating a $3.5 million memecoin scam involving hacked celebrity accounts and online gambling.
A former professional Fortnite player, known as Serpent, has been accused of orchestrating a $3.5 million memecoin scam. The allegations, brought to light by crypto investigator ZachXBT, suggest that Serpent was involved in hacking celebrity social media accounts to promote fraudulent cryptocurrency projects.
ZachXBT's investigation revealed a troubling connection between Serpent and a series of high-profile hacks. The former gamer is accused of using compromised social media accounts to promote fraudulent memecoins, leading to significant financial losses for unsuspecting investors.
The investigation highlighted that:
The hacking incidents involved the following accounts:
The total amount stolen from these scams is estimated at $3.5 million, with funds being transferred through various wallets before being gambled away. ZachXBT noted that Serpent frequently gambled large sums on online platforms such as Roobet and Stake, often sharing his activities on Discord.
Serpent's history is marred by allegations of cheating in esports, leading to his expulsion from the organization Overtime in 2020. Additionally, he co-founded an NFT project that was also accused of being a rug pull, further tarnishing his reputation.
Following the allegations, Serpent has reportedly deleted all posts from his social media accounts and changed his profile information, raising suspicions about his involvement in other potential scams. The crypto community remains on high alert as the investigation unfolds, highlighting the ongoing vulnerabilities in the cryptocurrency space.
As the memecoin market continues to attract attention, incidents like this serve as a reminder of the risks associated with investing in unregulated digital assets. The case underscores the need for increased vigilance and security measures within the cryptocurrency ecosystem, especially as scams become more sophisticated and prevalent.
