Pro Fortnite Player Accused of $3.4M Memecoin Scam

In a recent investigation, ZachXBT, an on-chain sleuth, accused pro-Fortnite player ‘Serpent’ of a $3.4 million memecoin scam, who was also terminated from the esports organization ‘Overtime’ after being caught allegedly cheating in June 2020.

1/ An investigation into how the threat actor Serpent went from a pro Fortnite player to helping steal $3.5M via meme coin scams launched from 9+ account compromises on X & IG and gambling the proceeds away at online casinos. https://t.co/zR6QtuQW8a pic.twitter.com/Y8ovnEnQgj

— ZachXBT (@zachxbt) November 27, 2024

Fortnite Fame, Memecoin Scam

His NFT project, DAPE, launched in 2022, ended in a “rug pull”. After that, Serpent launched another project, ERROR, in 2024, which died to same destiny. This led to his ban from X.

The findings from ZachXBT revealed that he transferred large sums of around 29 ETH to online casinos after converting them on Solana. His gambling activities on platforms like Roobet, Stake, and BC Game were reportedly streamed on Discord, leaking details of his addresses linked to scams, mistakenly.

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ZachXBT also disclosed social media handles on platforms like X and Instagram, which Serpent allegedly used to promote fraudulent memecoins. These scams misled followers into investing, only for funds to be siphoned off and laundered through cryptocurrency exchanges.

Furthermore, the detective also traced the Serpent’s connections with high-profile account takeovers, including big profiles like McDonad and Usher.

ZachXBT also identified a companion of Serpent, known as DeX. The person allegedly participated in sniping scams and later claimed extortion when confronted. With millions still unaccounted for and multiple addresses under surveillance, the detective is still closely working with victims to conclude the investigation.

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