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One Crypto Wallet Launched 114 Dodgy Memecoins in Two Months

According to crypto sleuths, crypto scammers have increased the creation of bogus memecoins in the last two months.  According to ZachXBT’s investigation, one address in particular has allegedly conducted “114 memecoin scams” in the last 45 days alone.

ZachXBT documented the movements of the wallet address: 0x739c58807B99Cb274f6FD96B10194202b8EEfB47 in a Twitter thread on April 26, observing that “each time stolen funds from the scam are sent to the exact same deposit address.”

“I’m sure there are more.” “These are just the ones sent to that deposit address, lol,” ZachXBT responded to a comment. Because the alleged scammer in issue used many wallets to split up funds, the independent blockchain investigator was unable to compute a financial figure on how much the claimed scamming activity had garnered.

Memecoins are crypto currencies inspired by and developed around popular internet jokes or memes, with no genuine utility or potential use case. However, Twitter user Lucrafund dug deeper, releasing a snapshot on the thread demonstrating that the “criminal mastermind” had wired some of the stolen monies to a Coinbase address, thereby revealing a vital personal identity.

When asked why ZachXBT believes this conduct hasn’t been reported by Coinbase, the anonymous detective indicated that it could be difficult to detect because funds are often delivered in “smaller amounts at a time.”

On April 27, Twitter user CoinGurruu shared a similar tweet, emphasizing the accused scammer wallet address 0xCc16D5E53C1890B2802d5441d23639CAc6cd646F, which is said to have “launched 2-5 memecoin rugs daily for almost 2 years straight.”

“These developers work extremely hard. Make sure you mark it on Etherscan so you don’t put money in their pockets. “Absolute lunacy,” they wrote. In a separate occurrence this week, ZachXBT appears to have discovered another suspected scammer using the wallet address tattooed on their back.

Twitter user NazareAmarga, also known as Gabriel Marques, is accused of launching a shady-looking memecoin aimed at duping holders of the legitimate Nakamigos NFT project.

According to ZachXBT, the wallet address tattooed on Marques, which can be seen in an online social media post, was prominently involved in the scam, which allegedly netted approximately $110,000 in Ether $1,906.



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