TechFlow reports on November 27 that on-chain analyst ZachXBT released an investigation revealing former "Fortnite" pro player Serpent is suspected of stealing multiple high-profile social media accounts—including those of McDonald's, Usher, and Kabosu's owner—and using them to promote fraudulent token projects, causing approximately $3.5 million in losses. Some of the illicit funds were reportedly used for gambling at online casinos.
The investigation shows Serpent was previously expelled from esports organization "Overtime" in 2020 for cheating, then co-founded and later abandoned the NFT project DAPE in 2022. In March 2024, he launched another project called ERROR, which also ended in an exit scam.
By tracing the on-chain fund flows, ZachXBT discovered the illicit proceeds ultimately moved to several online gambling platforms, including Roobet, Stake, BC Game, and Shuffle. Another suspect, Dex, from Massachusetts, USA, has also been implicated in the case.
Previous report: ZachXBT stated that attacks targeting social media accounts such as McDonald's and Kabosu's owner over recent months have resulted in losses exceeding $3.5 million.
