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One crypto wallet launched 114 dodgy memecoins in two months

One crypto wallet launched 114 dodgy memecoins in two months

Crypto sleuths have reported an increase in the launch of fraudulent memecoins over the last two months. One wallet address, 0x739c58807B99Cb274f6FD96B10194202b8EEfB47, is alleged to have launched 114 memecoin scams in the past 45 days alone, according to research by ZachXBT. The scammer has sent stolen funds to the same deposit address each time. The financial profit made is unclear as the alleged scammer has used multiple wallets.

Lucrafund shared that the alleged criminal mastermind had sent some of the stolen funds to a Coinbase address, risking identification. ZachXBT suggested that this activity may be hard for Coinbase to detect as the funds are being sent in smaller amounts.

CoinGurruu also shared a thread highlighting another alleged scammer wallet address, 0xCc16D5E53C1890B2802d5441d23639CAc6cd646F, which has allegedly “launched 2-5 memecoin rugs daily for almost 2 years straight.”

In a separate case, ZachXBT reportedly uncovered another alleged scammer through the wallet address tattooed on their back. Twitter user NazareAmarga, or Gabriel Marques, is alleged to have launched a memecoin purportedly targeting holders of the legitimate Nakamigos NFT project.