SerpentAU Accused in $3.5 Million Meme Coin Scandal
Once known for his incredible gaming skills, Australian Fortnite YouTuber SerpentAU now finds himself at the center of a major cryptocurrency fraud scandal.
Blockchain investigator ZachXBT revealed that SerpentAU, whose real name has not been made public, played a major role in a $3.5 million theft scheme executed via meme coins Scam. It marks a fall from grace for the former esports prodigy, who was removed from Overtime in 2020 amid cheating accusations.
From gaming scandals to cryptocurrency fraud
ZachXBT’s detailed investigation highlighted SerpentAU’s involvement in multiple account takeovers (ATOs). The YouTuber targeted well-known entities, including McDonald’s, Usher, and the video’s creator. Cabosu Tongjiao.
“Over the past few months I have been following a series of related compromises on X and IG from McDonald’s, Usher, Kabosu Owner, Andy Ayrey, Wiz Khalifa, SPX 6900, etc., resulting in an estimated over 3.5 million stolen via launch pump Dollar’s Funny Meme Coin,” Blockchain Detective explain.
These stolen social media accounts facilitated the spread of fraudulent cryptocurrencies, leading to massive investments from unsuspecting followers. For example, the McDonald’s Instagram hack alone netted scammers more than $690,000. The bad actors moved the funds through a blockchain wallet connected to SerpentAU.
ZachXBT uses time analysis and on-chain tracking to connect these fraudulent funds to gamble Platforms such as Stake and Roobet. SerpentAU reportedly bet millions of dollars on these platforms. In one example, a leaked Discord screen share showed that high-value deposits and withdrawals made by Serpent were linked to wallets involved in the scam.
SerpentAU first Get famous in 2020 After it was revealed that macros, software tools were used to give an unfair advantage in Fortnite’s creative mode. Although he expressed remorse and attributed his actions to a lack of understanding of their seriousness, his career took a dark turn.
By 2022, SerpentAU co-founded NFT (non-fungible token) and cryptocurrency projects such as DAPE and ERROR. Both projects failed amid accusations of fraudulent activity. These ventures set the stage for his deeper involvement in blockchain-based scams.
As details of SerpentAU’s involvement emerge, the implications extend beyond the crypto realm. Victims of scams face huge financial losses. The esports community must reckon with the ethical lapses of a former star. Ironically, Serpent’s early apology for cheating in Fortnite included a plea for understanding.
“The money, influence and experience I have have clouded my actions,” SerpentAU said.
Those words now echo as a grim omen for his descent into cryptocurrency fraud. The case is a stark reminder of the changing nature of online fraud.
role social media It has also become apparent that platforms serve as conduits for malicious actors. As ZachXBT continues to unravel the full scope of these plans, the cryptocurrency and gaming communities are considering the following costs: Misplaced trust in influential people.
At the same time, this isn’t ZachXBT’s first major investigation. Blockchain sleuths have previously uncovered major frauds, including Phishing scam targeting Coinbase users. He also exposed meme coin manipulation involving high-profile figures such as influencers Murad.
His work has also led to the arrest of hackers related to Creation Trade creditor. Some even prompt OpSec Williams key figure resigns after fraud allegations came to light. ZachXBT’s ongoing commitment to exposing deception in the cryptocurrency ecosystem is reflective of the broader risks investors face.
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