Ex-Fortnite Player Serpent Accused of $3.5 Million Memecoin Scams
ZachXBT, a prominent blockchain investigator, has accused an Australian former professional Fortnite player known as Serpent of masterminding memecoin scams that allegedly stole over $3.5 million. In a thread posted on November 27, ZachXBT connected Serpent to multiple fraudulent cryptocurrency projects, many of which were linked to hacked social media accounts.
Serpent, who was expelled from the esports organization “Overtime” in 2020 for alleged cheating, has also posed as a blockchain security analyst and the founder of a threat mitigation system called Sentinel. However, according to ZachXBT’s investigation, Serpent’s criminal activities go far beyond his public persona. The scams included the Pump.fun memecoin, which targeted hacked accounts on platforms such as X (formerly Twitter) and Instagram. Notably, high-profile account takeovers attributed to Serpent allegedly involved public figures like McDonald’s, Usher, and Wiz Khalifa.
ZachXBT claims that Serpent used the funds obtained from these scams to fuel his online gambling habit, particularly on platforms like Roobet, Stake, BC Game, and Shuffle. The investigator shared recordings where Serpent could be seen gambling large sums of money while inadvertently leaking deposit and withdrawal addresses connected to the scams.
In addition to his gambling activities, Serpent is linked to his own crypto project, ERROR, which ZachXBT labeled a “rug pull.” The wallet address associated with this project was found to be connected to several compromised accounts.
Following the revelations, Serpent began deleting posts from his X account, further raising suspicions about his involvement in the fraud. Despite presenting himself as a cybersecurity advocate and publishing guides on avoiding scams, Serpent’s actions suggest a stark contrast to his earlier warnings about phishing and fake airdrops.
This case adds to the ongoing issues of phishing attacks and crypto scams, which continue to cause substantial financial losses for victims. Last week, U.S. federal prosecutors charged five individuals linked to a sophisticated hacking operation that allegedly stole $11 million in cryptocurrency and sensitive data. The U.S. Department of Homeland Security (DHS) has been actively disrupting crypto scams, including ransomware attacks, reclaiming billions in extorted cryptocurrency since 2021.
