A scammer has reportedly collected over 160 ETH ($315,000) by exploiting the popularity of MEME coins, according to Lookonchain. The scam involved creating new MEME coins, adding liquidity, and draining the ETH from liquidity pools. Recently, the scammer withdrew 1.5 ETH from KuCoin and created the $TOMMY coin, removing liquidity after 18 days and gaining 28.7 ETH.
In addition to $TOMMY, the scammer created $KSI, $ZUCK, and $BILL, accumulating 140 ETH in stolen funds. The scammer has also recently created two new MEME coins, WALTER2.0 and GIGA2.0, with liquidity not yet removed. Buyers are urged to avoid these tokens.
Liquidity has not yet been removed as of reporting, and buyers are cautioned not to purchase these tokens. Lookonchain advises potential investors to research the creators of any MEME coins before investing to protect themselves from scams.
