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Crypto Sleuth Exposes Scammer Who Exploited ETH From Crypto Investors

Published 05/19/2023, 09:45 AM
Updated 05/19/2023, 10:00 AM
Crypto Sleuth Exposes Scammer Who Exploited ETH From Crypto Investors

  • On-chain sleuth ZachXBT has uncovered a scammer’s plot to exploit crypto investors on Twitter.

  • The scammer tricked investors into sending 10 ETH in exchange for a new token called DGEN.

  • The scammer used photoshopped transactions to claim that the DGEN tokens were issued by PEPE founders.

Popular on-chain sleuth ZachXBT has shed light on a scammer on Twitter who has been soliciting Ether from crypto investors on Twitter by misleading them about a token airdrop. The scammer, who goes by serdegen0x on Twitter reportedly used fake transaction screenshots to mislead investors.

ZachXBT took to Twitter earlier today to share serdegen0x’s latest plot to exploit crypto investors. According to the on-chain sleuth, the scammer photoshopped Ethereum transactions to convince investors on crypto Twitter that the builders behind the popular PEPE token had deployed a new meme token called DGEN.

serdegen0x claimed that the PEPE deployers had launched a presale contract for the DGEN token. The scammer encouraged crypto investors to send any ETH amount to his wallet address, in order to get allocated for the new token’s distribution. “Ape responsibly but this can get us another 1000x memecoin,” the scammer stated on Twitter.

Through this scam, serdegen0x managed to collect 10 ETH worth over $18,000 at the time of writing. After securing the investments, the scammer deleted the presale tweet and moved the funds to a different wallet. ZachXBT revealed that serdegen0x was a serial scammer, having executed similar schemes in the past.

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The scammer previously operated under the username rasucrypto and executed multiple presale scams over the past three weeks. In one of these scams, the scammer solicited ETH from crypto investors on Twitter in exchange for CHAD tokens. However, the tokens were never delivered to the investors. The scammer has deposited his proceeds from the scams (over 45 ETH) to Bitget.

The post Crypto Sleuth Exposes Scammer Who Exploited ETH From Crypto Investors appeared first on Coin Edition.

See original on CoinEdition

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