Investigator uncovers extra fraud in $122.5 million fraudulent pre-sale scheme

• Investigator ZachXBT supplies updates on pre-sale scams concentrating on Solana traders.
• Fraudsters deplete 655,000 SOL tokens and a complete of over $122.5 million from traders.
• One sufferer loses $1.2 million after connecting his pockets to a pretend pre-sale web site.

In a current X publish, blockchain detective ZachXBT revealed the techniques utilized by scammers concentrating on Solana traders. One such scammer, who goes by the account username “Sartoshi0x,” secretly stole 62% of the SOLs raised from the presale, totaling 7,000 SOLs, and failed to completely distribute the promised tokens to traders.

A person who goes by the identify ‘Jared_eth’ on X turned out to be a pretend, posing as a well known crypto determine, Jared MEV. This incident echoes an analogous rip-off in June 2023, when one other pretend Jared account defrauded traders of $440,000.

One other scammer, who goes by the username ‘bluekirbyftm’ after the pre-sale, has “roughed up” the mission. They trashed the chosen funds and even printed a nonsensical article defending their actions.

On March 19, an investigation by ZachXBT revealed the truth behind the current rise of Solana-based meme cash. Keen traders, lured by the temptation of excessive returns, participated in pre-sales, solely to fall sufferer to an online of fraudulent schemes.

Uncovering a minimum of 27 such scams, a really detailed investigation by ZachXBT uncovered fraud community that siphoned off over 655,000 SOL tokens price a whopping $122.5 million.

The strategies utilized by these scammers various, but shared a standard objective of exploitation. As well as, techniques reminiscent of “pockets drain” options have been used to steal funds straight from traders’ wallets, destroying many. In a single notably disturbing case, a single investor misplaced a staggering $1.2 million after connecting his pockets to a pretend pre-sale web site.

Among the many fraudsters recognized, Vombatus, who goes by the username ‘Vombatus_eth’ on X, emerged as a repeat offender with a sample of “carpet-pulling” fraudulent exercise from one other token after the pre-sale, which fetched a major sum of 13,000 SOL. As authorities and traders grapple with the fallout from these scams, the ZachXBT revelations function a stark reminder of the dangers related to the risky world of cryptocurrency investing.