ZachXBT, a blockchain investigator, has accused a former professional Fortnite player known as Serpent of defrauding investors of over $3.5 million through memecoin scams. Serpent allegedly orchestrated fraudulent cryptocurrency projects using hacked social media accounts and misleading investment opportunities. The esports star was ousted from Overtime in 2020 for cheating and has since delved into illicit finance. ZachXBT's investigation revealed Serpent's involvement in meme coin scams targeting celebrities like McDonald's, Usher, and Wiz Khalifa. Serpent also gambled away millions on online casinos and engaged in money laundering. The scam extended to a project called ERROR, labeled a 'rug pull' by ZachXBT. Serpent's actions highlight the persistent vulnerabilities in the cryptocurrency ecosystem, emphasizing the need for enhanced security measures against scams and phishing attacks. Read more AI-generated news on: https://app.chaingpt.org/news