Pro Gamer Serpent Exposed in $4M Pump.Fun Meme Coin Scam, Uncovered by ZachXBT

The cryptocurrency sector continues to attract significant attention as bitcoin‘s value targets the remarkable $100,000 milestone. Amidst this dynamic environment, a notable incident has surfaced, capturing the interest of investors and stakeholders alike. A widely respected cryptocurrency investigator, ZachXBT, has recently uncovered a substantial scam involving meme coins, which has been linked to a professional gamer. This scheme is reportedly valued at approximately $3.7 million and is further tied to high-profile social media account breaches and fraudulent promotional activities.

Historically, the crypto industry has enjoyed a robust reputation in the global financial sector, boasting a staggering market capitalization of around $3.35 trillion. Despite its growth, the landscape is marred by an increasing number of scams, thefts, and money laundering activities, raising concerns among investors and industry leaders. In response to the proliferation of meme coin scams, figures like Changpeng Zhao have expressed their disapproval, highlighting the need for caution in this rapidly evolving market.

In 2024, the crypto industry has been plagued by a series of wallet hacks, rug pull schemes, and other fraudulent activities. Among these, the hacking of celebrity social media accounts and the subsequent promotion of illicit cryptocurrency activities have become disturbingly common. In light of these troubling trends, ZachXBT has conducted an in-depth analysis of nine high-profile account hacks, uncovering a disturbing pattern involving meme coins. His investigation points to a professional Fortnite gamer identified as Serpent as a key figure orchestrating these scams.

ZachXBT has implicated Serpent in a $3.7 million meme coin fraud, asserting that the gamer utilized multiple meme coins, particularly those linked to Pump.Fun, to execute pump-and-dump schemes. Crucially, the ERROR project wallet associated with Serpent emerged as a central element in the investigation, showing interactions with various hacker wallets either directly or indirectly.

Serpent, known for his prowess in gaming and blockchain security, founded a threat mitigation system called Sentinel. However, the recent revelations by ZachXBT have thrust him into controversy, alleging his involvement in scams amounting to millions. Adding to the intrigue, Serpent reportedly gambled away the proceeds in online casinos, further complicating the situation. Following these allegations, Serpent deleted numerous posts from his X platform account, which only served to heighten suspicions.

ZachXBT’s revelations, shared via a detailed post on X, have shed light on the extent of the meme coin scams, linking them to a series of compromised celebrity accounts. Notable incidents include the hacks of accounts belonging to prominent figures and entities such as McDonald’s, Usher, the owner of Kabosu, Andy Ayrey, Wiz Khalifa, and others on platforms like X (formerly Twitter) and Instagram.

One of the initial breaches involved McDonald’s Instagram account at the start of the year, where a memecoin called GRIMACE was promoted, generating over $700,000 through pump and dump tactics. This scheme took place on August 21, with funds being funneled into two primary crypto wallets. Subsequently, on September 3, the scammer moved 103 SOL to two addresses and launched the SCHRADER token, which was promoted via an X account hack of actor Dean Norris.

On September 6, the scammer transformed McDonald’s credentials to a casino deposit account, utilizing an originating address labeled B2fw. This account further transferred 112 SOL to two additional addresses on September 12, involving meme coins during the Usher crypto hack. The B2fw wallet also moved 4880 SOL to a casino deposit address, ECb5v, connected to the hack of Andy Ayrey and the Enoshima Aquarium on October 15, with additional transfers of 86 SOL to ECb5v occurring on the same day.

The saga continued with a significant hack of the Truth Terminal owner’s X account on October 29, which remained compromised for an extended period. During this time, six meme coins were promoted via the account, all linked back to a 3GVUs wallet, which transferred 171 SOL to ECb5vs on October 30. This incident is one among numerous others, depicting a complex web of fraudulent activities.

Throughout 2024, meme-themed cryptocurrencies have drawn substantial attention from investors, with many witnessing significant gains, particularly those associated with solana memecoins. The launch of countless Solana-based meme tokens this year has been overshadowed by their misuse in fraudulent schemes. ZachXBT’s investigation has unveiled the mastermind behind the $3.7 million meme coin scam, further exposing the hacking of celebrity accounts to drive up token prices for subsequent dumping. Through these fraudulent tactics, the alleged pro-Fortnite gamer Serpent realized substantial profits, leaving others in financial ruin.