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.

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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
Written by
sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

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