CDS Crypto News Investigator Unveils Further Fraudulent Schemes in 122.5 Million Dollars Presale Scam
Crypto News

Investigator Unveils Further Fraudulent Schemes in 122.5 Million Dollars Presale Scam

Blockchain investigator ZachXBT provides updates on Solana presale scams, revealing over 27 fraudulent schemes draining $122.5 million worth of SOL tokens.

48
Investigator Unveils Further Fraudulent Schemes in 122.5 Million Dollars Presale Scam

Crypto NewsBlockchain investigator ZachXBT recently exposed a series of scams targeting Solana investors in a detailed post on X. One scammer, operating under the username ‘Sartoshi0x,’ clandestinely pocketed 62% of SOL raised in a presale, totaling 7,000 SOL, and failed to distribute the promised tokens to investors.

Investigator Unveils Further Fraudulent Schemes in 122.5 Million Dollars Presale Scam

Another scam involved a fake user, ‘Jared_eth,’ impersonating well-known crypto figure Jared MEV, reminiscent of a previous incident in June 2023 where a fake Jared account defrauded investors of $440,000.

In yet another instance, a user named ‘bluekirbyftm’ ‘rugged’ the project post-presale, absconding with raised funds and publishing a nonsensical article to justify their actions.

ZachXBT’s investigation on March 19th exposed a surge in Solana-based meme coins and unveiled at least 27 scams, draining over 655,000 SOL tokens valued at $122.5 million. Scammers employed various methods, including ‘wallet drain’ functions, directly stealing funds from investors’ wallets. One victim suffered a massive loss of $1.2 million after connecting their wallet to a fake presale website.

Among the identified scammers, ‘Vombatus_eth’ emerged as a repeat offender, ‘rug pulling’ another token after a presale that raised 13,000 SOL. ZachXBT’s findings serve as a stark reminder of the risks in cryptocurrency investment, prompting both authorities and investors to confront the aftermath of these scams.

Investigator Unveils Further Fraudulent Schemes in 122.5 Million Dollars Presale Scam

Leave a comment

Leave a Reply

Related Articles

X Unveils Vision for Comprehensive Payment Features, Including In-App Wallet and Interest Earnings

X Unveils Vision for Comprehensive Payment Features, Including In-App Wallet and Interest...

Bitcoin and fiat repayment timetable adjusted by Mt. Gox trustee

Creditors of Mt. Gox now have visibility into the anticipated amounts of...

BTC Miners and AI: CoinShares Report Predicts Miners Will Use AI to Reduce Cost

CoinShares shared a research report on the relationship between BTC miners and...

Bitcoin Halving Sparks Dramatic Drop in Transaction Fees

After the halving, transaction fees surged to $146 for a medium-priority transaction...