Ex-Fortnite player linked to $3.5M memecoin scams

Blockchain investigator ZachXBT has accused a former professional Fortnite player and cybersecurity analyst, known as 'Serpent,' of involvement in memecoin scams that allegedly stole over $3.5 million.

In a November 27 post, ZachXBT linked wallet addresses associated with Serpent to a series of Pump.fun memecoin scams.

These scams reportedly exploited hacked social media accounts of high-profile individuals and organisations, including McDonald’s, Usher, and Kabosu’s owner.

Serpent, previously expelled from the esports group ‘Overtime’ in 2020 for alleged cheating, later rebranded as a blockchain security analyst and founded a threat mitigation platform called Sentinel.

Despite these credentials, ZachXBT alleges that Serpent was connected to the compromised accounts used to promote fraudulent tokens.

“Over the past few months, I have been tracking a series of related compromises for McDonald’s, Usher, Kabosu Owner, Andy Ayrey, Wiz Khalifa, SPX 6900, etc., on X IG, which has resulted in an estimated $3.5M+ stolen via launching Pump.fun meme coins,” ZachXBT wrote.

The investigator further alleged that proceeds from the scams were gambled away in online casinos, with deposit and withdrawal addresses tied to the compromised accounts.

Evidence reportedly shows Serpent deleting posts from his new X account after ZachXBT's findings were made public.

In 2022, Serpent had positioned himself as a cybersecurity expert, offering advice on avoiding crypto scams and identifying vulnerabilities in Google ads.

However, ZachXBT’s investigation suggests a significant disconnect between Serpent’s public persona and his alleged involvement in fraudulent activities.