Blockchain sleuth ZachXBT alleged a former professional Fortnite player and blockchain security analyst from Australia was involved in memecoin scams that resulted in about $3.5 million being stolen. 

In a Nov. 27 thread published on X, ZachXBT said wallet addresses tied to former pro-Fortnite player Serpent had “high exposure” to several Pump.fun memecoin scams involving hacked social media accounts. 

The former gamer, who was expelled from the esports organization “Overtime” in June 2020 for alleged cheating, according to gaming TV network Ginx.tv, was also known on X as a security analyst and a founder of a threat mitigation system called Sentinel.

“Over the past few months, I have been tracking a series of related compromises for McDonald’s, Usher, Kabosu Owner, Andy Ayrey, Wiz Khalifa, SPX 6900, etc on X & IG which has resulted in an estimated $3.5M+ stolen via launching Pump Fun meme coins.”

ZachXBT said a wallet address associated with Serpent’s project called “ERROR” (allegedly a rug pull) was “directly connected” to multiple account takeovers, including McDonald’s, Usher, Andy Ayrey, Dean Norris and Enoshima Aquarium.

The investigator said Serpent was “gambling the proceeds away at online casinos,” and recordings of him gambling showed a deposit and withdrawal address with “high exposure” to some addresses involved in the account takeovers. 

ZachXBT alleges former pro-Fortnite player helped steal $3.5M via memecoin scams image 0

Compromised social media accounts. Source: ZachXBT

The investigator reported that Serpent began deleting all his posts from his new X account after the first part of the investigation was published on Nov. 26. 

Related: Scammers use memecoin ‘trending’ list to lure victims — Researcher

In 2022, Serpent claimed to be a cybersecurity analyst and posted a guide on his now-suspended X account detailing how scammers target inexperienced crypto users through the use of fake websites, hacked verified accounts, phishing and spurious airdrops.

Serpent also founded a threat mitigation system called Sentinel and warned users about vulnerabilities in Google ads in 2022, according to blockchain security firm SlowMist. 

Magazine: 5 dangers to beware when apeing into Solana memecoins