ZachXBT: 114 Meme Coin Scams Over The Last Month Linked To Address 0x739
Over the past 1.5 months one person has created 114 meme coin scams.
Each time stolen funds from the scam are sent to the exact same deposit address.
0x739c58807B99Cb274f6FD96B10194202b8EEfB47 pic.twitter.com/uwVAiG9WGG
— ZachXBT (@zachxbt) April 26, 2023
In the past 1.5 months, one person has created 114 coin meme scams. Each time the funds stolen from the fraud are sent to the same deposit address as 0x739c58807B99Cb274f6FD96B10194202b8EEfB47.
According to detective ZachXBT, taking a total inventory of the coins the scammers have collected is still impossible because they use multiple alternate wallet addresses and split the proceeds.
In recent days, the community has experienced a substantial increase in BTC, ETH and many other Altcoins. When people say “Altcoin season has come” is also when the meme coins started to make waves. And the two hottest names are Pepe the Frog (PEPE) and AIdoge.
Critics argue that the enthusiasm surrounding the coin meme and NFT distract from blockchain projects with long-term development value. As investors chase quick returns, they overlook initiatives that could revolutionize industries like finance, healthcare, and supply chain management.
Meme coin and NFT proponents see them as part of the natural evolution of the crypto landscape. They argue that these assets reflect the growing interest in digital currencies and demonstrate the versatility of blockchain technology. From this point of view, the meme coin and NFT are not distractions but creative experiments aimed at pushing the boundaries of the safe zone in the crypto world.
The meme coin and NFT markets are back to life, with critics saying these trends threaten the crypto industry. Fake projects crop up quickly, and gullible investors buy assets without realizing their total value or risk. This “get rich quick” mentality catches off guard scams, fakes, and cyber attacks. Since then, potential projects with long-term growth value have been unpopular with many investors.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
