Australian YouTuber specializing in Fortnite, SerpentAU, was once celebrated for his exceptional gaming skills, now finds himself at the center of a serious cryptocurrency fraud scandal.
Blockchain investigator, ZachXBT, revealed that SerpentAU, whose real name has yet to be disclosed, played a significant role in a scam scheme totaling $3.5 million through meme coin scams. This is a spectacular fall from grace for the former esports talent, who was removed from Overtime Gaming in 2020 after being accused of fraud.
From Gaming Scandal to Cryptocurrency Fraud
ZachXBT's detailed investigation highlights SerpentAU's involvement in numerous account takeovers (ATO). This YouTuber targeted prominent figures, including McDonald's, Usher, and the creator of the meme coin Kabosu.
“In the past few months, I have been tracking a series of hacks related to McDonald's, Usher, the owner of Kabosu, Andy Ayrey, Wiz Khalifa, SPX 6900, etc., on X & IG leading to around $3.5 million stolen through the launch of meme coin Pump Fun,” said the Blockchain investigator.
Victims of SerpentAU. Source: ZachXBT
These compromised social media accounts have been used to promote fraudulent cryptocurrencies, causing unsuspecting followers to rush into significant investments. For instance, the McDonald's Instagram hack generated over $690K for the scammer. The perpetrators transferred money through a blockchain wallet linked to SerpentAU.
By using time analysis and on-chain tracking, ZachXBT linked funds from these scams to gambling platforms like Stake and Roobet. SerpentAU is said to have gambled millions on these platforms. In one case, a leaked Discord screen share revealed Serpent making large deposits and withdrawals, associated with wallets implicated in the scams.
SerpentAU rose to fame in 2020 after being accused of using macros, software tools that allow for an unfair advantage in Fortnite's Creative mode. Despite expressing regret and claiming his actions stemmed from ignorance of their severity, his career has veered into a darker path.
By 2022, SerpentAU co-founded NFT (Non-fungible Token) and cryptocurrency projects such as DAPE and ERROR. Both of these projects collapsed amid allegations of fraudulent activities. These projects paved the way for his deeper entanglement in blockchain-based scams.
As details about SerpentAU's involvement unfold, the consequences extend beyond cryptocurrencies. Victims of the scams are facing significant financial losses. The esports community is grappling with the ethical violations of one of its former stars. Ironically, Serpent’s initial apology for cheating in Fortnite included a call for sympathy.
“My actions have been clouded by money, influence, and the experiences I’ve had,” SerpentAU once said.
These words now resonate as a serious warning about his journey into cryptocurrency fraud. The incident serves as a stark reminder of the shifting nature of online fraud.
The role of social media platforms as tools for bad actors has become clear. As ZachXBT continues to unravel the full extent of these schemes, the cryptocurrency and gaming communities are paying the price for misplaced trust in influencers.
Meanwhile, this is not ZachXBT's first major investigation. This Blockchain investigator has previously exposed significant frauds, including scams targeting Coinbase users. He also revealed meme coin manipulation involving prominent figures like influencer Murad.
His work also led to the arrest of hackers related to Genesis Trading creditors. Some also prompted resignations of key figures in OpSec Williams after fraud allegations surfaced. ZachXBT's relentless focus on exposing fraud in the cryptocurrency ecosystem reflects the broader risks investors face.
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