- ZachXBT spotted a crypto theft involving approximately $2M worth of ANDY meme coins.
- The thief had exchanged about half of the stolen crypto to ETH, transferring them to new wallets.
- Memecoin hacker drained the victim’s wallet in three transactions in under one minute.
Blockchain sleuth ZachXBT uncovered a crypto theft targeting roughly $2 million worth of ANDY meme coins.
In a post, the investigator revealed the thief exchanged half the stolen assets for Ethereum (ETH) and transferred them to new wallets.
ZachXBT shared a transaction diagram, a hallmark of his investigations. It showed the remaining stolen funds held in ANDY, a meme coin on the Base network. At the time of the report, the hacker held 4.2 billion ANDY, valued at approximately $1 million.
The investigation revealed the hacker stole the meme coins via three separate transactions within a minute.
The stolen crypto was consolidated into a single wallet before being dispersed across five new addresses over multiple transactions. This transfer process took under 30 minutes.
The report highlights a couple of secondary transfers, with the most significant involving 8.38 ETH sent to a new wallet. The other involved a portion of the stolen meme coins.
ZachXBT’s alert coincides with surging interest in the meme coin sector fueled by the ongoing crypto market speculation.
Many traders view meme coins as a potential source of quick profits due to their history of rapid price increases.
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