On-chain sleuth ZachXBT has shed light on a scammer who rugged investors by creating 114 meme coins within 45 days. The meme coin season kicked off recently, and scammers were quick to rug unsuspecting investors. Meme coins driven by various memes, such as the popular doge meme, have no utility. Some are created as a joke, whereas others are created to lure investors greedy for a quick return. ZachXBT discovered that funds stolen from 114 meme coin scams were being sent to the “exact same deposit address,” 0x739c. The on-chain analyst also suspects that the scammer must have created more meme coins. He says, “These are just ones sent to that deposit address lol.” The wallet 0x739c presently holds just $1.79 worth of Ethereum tokens (ETH). Interestingly, this account’s highest balance was just $2.05, recorded last Friday. After receiving the stolen funds, the scammer transferred it in small batches of around 2.5 ETH to Coinbase addresses. The chart below shows that the amount sent out from the wallet has remained almost equal to the amount received.
Full story : How This Scammer Rugged Investors by Creating 114 Meme Coins.
