ZachXBT, a blockchain investigator, has raised serious allegations against a former professional Fortnite player from Australia who is suspected of being involved in memecoin scams that have reportedly stolen around $3.5 million. The player, referred to as ‘Serpent,’ has been linked to numerous incidents involving hacked social media accounts and compromised funds connected to the Pump.fun memecoins.
In recent updates, it was revealed that Serpent’s wallet addresses have shown significant ties to a series of scams that target high-profile individuals and organizations. This includes taking over accounts of notable figures such as McDonald’s, Usher, and others, leading to substantial financial losses. In June 2020, Serpent was expelled from the esports organization ‘Overtime’ due to cheating allegations, as reported by various gaming news outlets.
ZachXBT’s investigation highlighted a specific wallet linked to Serpent’s project called “ERROR,” which is suspected to have executed a rug pull. This wallet has direct connections to multiple account hijackings, suggesting a complex scheme designed to exploit both brands and individuals. Additionally, it has been reported that Serpent may have been using the stolen funds for gambling activities in online casinos, with evidence pointing to his engagement in transactions that connect back to the compromised accounts.
Following the initial release of these findings, Serpent has reportedly begun to erase posts from his social media account, indicating an attempt to distance himself from the accusations. Intriguingly, in 2022, he portrayed himself as a cybersecurity analyst and issued warnings about the tactics employed by scammers to deceive inexperienced crypto users, even offering guidance on how to navigate these threats. This troubling contrast underscores the gravity of the situation and raises questions about the integrity of individuals in the rapidly evolving crypto landscape.
