Expert found the address that created 114 “fraudulent” meme-tokens

Expert found the address that created 114 “fraudulent” meme-tokens

During the last 45 days, an unknown person created 114 “fraudulent” meme-tokens and sent funds received with them to one address. This was brought to the attention of ZachXBT, an onchain analyst.

Part of the assets the user ran through Coinbase.

The analyst specified that there were no known coins among the meme-tokens. However, he did not rule out that there could be more such fake assets.

“I suspect there are others. These are just the ones sent to a [specific] deposit address,” he wrote.

In the comments to the thread users pointed out that after each transaction the unknown person deposits 2.5-3 ETH from Coinbase to his wallet to pay fees and maintain liquidity. Then he takes 0.1-0.2 ETH profit to his exchange wallet. And sometimes he even loses money on it.

According to ZachXBT, it is impossible to calculate the exact amount of money earned because the user uses alternative wallets and crushes assets.

In the original thread, ZachXBT followers also mentioned a similar scheme discovered by a user called CoinGurruu. He found an address that had been running 2-5 rug pull attacks daily for almost two years.

This address is currently flagged as a phishing scam by Etherscan.

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