- Investigator ZachXBT provides updates on presale scams focusing on Solana traders.
- Scammers Drain 655,000 SOL Tokens & collectively over $122.5 million from traders.
- One sufferer loses $1.2 million after connecting their pockets to a faux presale web site.
In a latest X publish, blockchain sleuth ZachXBT uncovered ways utilized by scammers focusing on Solana traders. One such scammer who goes by the username of “Sartoshi0x’s” account secretly pocketed a 62% of the SOL raised from a presale, totaling 7,000 SOL, and failed to completely distribute the promised tokens to traders.
A consumer who goes by the title of ‘Jared_eth’ on X turned out to be a faux impersonating a well known crypto determine, Jared MEV. This incident echoes an analogous rip-off in June 2023, the place one other faux Jared account swindled traders out of $440,000.
One other scammer who goes by the username of ‘bluekirbyftm’ following the presale, “rugged” the challenge. They swept away the funds raised and even revealed a nonsensical article defending their actions.
On nineteenth March, ZachXBT’s investigation revealed a actuality underlying the latest surge in Solana-based meme cash. Keen traders, drawn by the temptation of excessive returns, participated in presales, solely to fall sufferer to an online of fraudulent schemes.
Uncovering a minimum of 27 such scams, ZachXBT’s extremely detailed inquiry uncovered a community of deceit that drained over 655,000 SOL tokens, valued at a staggering $122.5 million.
The strategies employed by these scammers different, but shared a standard objective of exploitation. Moreover, ways comparable to “pockets drain” features have been used to steal funds instantly from traders’ wallets leaving many devastated. In a single notably regarding case, a single investor suffered a staggering lack of $1.2 million after connecting their pockets to a faux presale web site.
Among the many recognized scammers, Vombatus who goes by the consumer title of ‘Vombatus_eth ‘ on X, emerged as a repeat offender with a sample of fraudulent exercise by “rug pulling” one other token after a presale that raised a big sum of 13,000 SOL. As authorities and traders grapple with the aftermath of those scams, ZachXBT’s revelations function a stark reminder of the dangers inherent within the unstable world of cryptocurrency funding.
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