In a recent investigation, on-chain detective ZachXBT accused pro-Fortnite player “Serpent” of a $3.4 million memecoin scam, who was also fired from esports organization “Overtime” after being caught cheating in June 2020.
1/ An investigation into how threat actor Serpent went from being a professional Fortnite player to helping steal $3.5 million via coin scams launched from over 9 accounts compromise on X and IG and play the profits in online casinos. https://t.co/zR6QtuQW8a pic.twitter.com/Y8ovnEnQgj
-ZachXBT (@zachxbt) November 27, 2024
Fortnite Fame, Memecoin scam
Its NFT project, DAPE, launched in 2022, resulted in a “rug pull”. After that, Serpent launched another project, ERROR, in 2024, which died according to the same fate. This led to his ban from X.
ZachXBT’s findings revealed that he transferred large sums of around 29 ETH to online casinos after converting them on Solana. His gaming activities on platforms like Roobet, Stake and BC Game were allegedly broadcast on Discord, mistakenly disclosing details of his addresses linked to scams.
ZachXBT also leaked social media handles on platforms like X and Instagram, which Serpent allegedly used to promote fraudulent memecoins. These scams misled followers into investing, only for the funds to be siphoned off and laundered through cryptocurrency exchanges.
Additionally, the detective also traced the Serpent’s links to high-profile account takeovers, including high profile ones like McDonad and Usher.
ZachXBT also identified a companion of Serpent, known as DeX. The person allegedly participated in sniper scams and then claimed extortion when confronted. With millions of people still missing and multiple addresses under surveillance, the detective is still working closely with the victims to conclude the investigation.
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