The Rise of Fake Memecoins: One Scammer Starts 114 Projects in 45 Days

One alleged scammer in particular, according to ZachXBT, started almost 114 projects in the last 45 days alone.



Over the past two months, fake memecoin launches have increased because of cryptocurrency scammers, according to crypto sleuths. One address in particular, according to research from blockchain detectives ZachXBT, has started "114 memecoin scams" in the last 45 days alone.



Related: Mastering Meme Coins: Your Ticket to Crypto Wealth or a Risky Gamble?



In an April 26 Twitter thread, ZachXBT tracked the movements of the wallet address 0x739c58807B99Cb274f6FD96B10194202b8EEfB47, noting that “each time stolen funds from the scam are sent to the exact same deposit address.”



Given that the putative scammer in question had divided assets among various wallets, the independent blockchain detective was unable to determine h


First found on: https://coinatory.com/2023/04/27/the-rise-of-fake-memecoins-one-scammer-starts-114-projects-in-45-days/?utm_source=BG&utm_medium=Blogger+Some+Crypto+Blog&utm_campaign=SNAP