TL;DR
- ZachXBT accuses “Serpent”, a former professional Fortnite player and cybersecurity analyst, of being linked to a memecoin scam that stole $3.5 million.
- The investigator traced wallets associated with Serpent, involved in scams related to the Pump.fun platform.
- Serpent, who was expelled from Overtime for fraud, used the stolen funds in online gambling, and deleted his posts on X after the investigation was revealed.
ZachXBT, a blockchain investigator known for his work in detecting scams, has made serious accusations against a former professional Fortnite player and cybersecurity analyst from Australia.
According to a series of posts made on X, the former player, known as “Serpent“, is allegedly linked to a memecoin scam that resulted in the theft of approximately $3.5 million.
1/ An investigation into how the threat actor Serpent went from a pro Fortnite player to helping steal $3.5M via meme coin scams launched from 9+ account compromises on X & IG and gambling the proceeds away at online casinos. https://t.co/zR6QtuQW8a pic.twitter.com/Y8ovnEnQgj
— ZachXBT (@zachxbt) November 27, 2024
The Investigation of ZachXBT
In his investigations, ZachXBT traced several wallet addresses associated with Serpent that, according to the investigator. Were involved in scams related to the Pump.fun platform. These scams affected verified accounts of public figures and major companies, such as McDonald’s, Usher, Wiz Khalifa, and others.
These people and entities saw their social media accounts hacked to launch fraudulent schemes. According to ZachXBT, one of Serpent’s wallets, linked to a project called “ERROR“, was directly connected to these account takeovers.
Serpent Accused of Fraud
Additionally, it has been revealed that Serpent, who was also expelled from the eSports organization Overtime in 2020 for alleged fraud. Was using the stolen funds for online gambling, specifically in virtual casinos. Transaction records show that the addresses involved in the withdrawals of these funds are related to the same hacked accounts.
Deleted Posts
ZachXBT’s accusations have triggered a series of reactions. Serpent began deleting all posts from his account on X after the initial revelation of the investigation. Previously, Serpent had presented himself as a security analyst and had warned about cyber threats. Providing guides on how scammers target crypto users. In 2022, Serpent founded a risk mitigation system called Sentinel and also warned about vulnerabilities in Google Ads
