Fortnite Player Gambles Away $3.5M From Memecoin Rug-Pulls

A former professional gamer has been outed for orchestrating $3.5 million worth of memecoin scams before losing it all to gambling. On Nov. 27, ZachXBT, an on-chain investigator, accused Serpent, a former professional Fortnite player, of masterminding memecoin scams that defrauded victims of approximately $3.5 million. Serpent allegedly used hacked social media accounts of corporations and public figures on X and Instagram to promote memecoins that the gamer would later rug-pull — meaning Serpent would withdraw liquidity from the decentralized exchanges the tokens were trading on. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant