ZachXBT, a well-known researcher in the world of cryptocurrency, has made a shocking revelation.
According to their recent findings, an individual has been issuing numerous fraudulent “meme tokens” from a particular address over the last 45 days.
The wallet in question is 0x739c58807B99Cb274f6FD96B10194202b8EEfB47, and the owner is believed to be scamming investors by transferring funds from the sale of these tokens to their own addresses.
Unfortunately, the exact amount of money stolen is unclear as the perpetrator is using multiple addresses to carry out these fraudulent activities.
Further investigations conducted by Twitter user Lucrafund revealed that some of the stolen funds were transferred to the Coinbase exchange.
It appears that the exchange was unable to detect the fraudulent activity since the attacker only transferred a small number of tokens at a time to avoid suspicion.
Another address with similar behavior was later discovered by CoinGurruu analyst, who identified wallet 0xCc16D5E53C1890B2802d5441d23639CAc6cd646F as the source of two to five scam “meme tokens” per day.
These developers are extremely fast in their activities and are causing significant harm to innocent investors.
It is recommended to tag their addresses on the Etherscan service to prevent others from falling prey to their scams.
In a recent statement, the creator of the popular cryptocurrency-meme Dogecoin, Billy Markus, criticized crypto investors, claiming they have mental disorders, and suggesting that NFT buyers are even more “sick.”