YEREVAN (CoinChapter.com) — Blockchain investigator ZachXBT has alleged that an Australian former professional Fortnite player, Serpent, was involved in memecoin scams, stealing over $3.5 million.
In a detailed thread posted on Nov. 27, ZachXBT revealed that wallet addresses tied to Serpent had “high exposure” to Pump.fun memecoin scams linked to several hacked social media accounts.
These scams reportedly targeted accounts of prominent figures, including McDonald’s, Usher, and Wiz Khalifa. Serpent, once associated with the esports group Overtime, was expelled in June 2020 due to alleged cheating. Despite rebranding as a cybersecurity analyst, ZachXBT’s investigation ties him to fraudulent activities in the blockchain space.
Direct Links Between Wallets and Account Takeovers
ZachXBT highlighted that Serpent’s ERROR project allegedly operated as a rug pull, with funds funneled through wallets connected to multiple high-profile account takeovers. Victims included Dean Norris, the Kabosu Owner, and Enoshima Aquarium.
Funds stolen from the scams were reportedly gambled away online. The investigator shared evidence linking casino deposit and withdrawal addresses to wallets tied to the fraudulent schemes.
According to ZachXBT, this connection established a direct relationship between the stolen funds and Serpent’s activities.
Serpent Deletes Content Amid Growing Scrutiny
After ZachXBT published the findings on Nov. 26, Serpent began deleting posts from his X account. The timing coincided with increasing scrutiny of his alleged role in orchestrating these memecoin scams.
Previous Claims as a Cybersecurity Analyst
In 2022, Serpent presented himself as a cybersecurity analyst and founder of a threat mitigation system named Sentinel. He shared detailed guides on his now-suspended X account, warning about phishing, fake websites, and compromised accounts. These warnings contrasted the allegations of his involvement in scams targeting the crypto community.
Blockchain security firm SlowMist noted that Serpent also flagged vulnerabilities in Google ads during the same period. Despite this, ZachXBT’s investigation claims Serpent’s activities contributed to significant financial losses through memecoin fraud.
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