• An investigation conducted by blockchain sleuths revealed that one wallet has been responsible for launching 114 meme coin scams in the past 45 days.
• The suspected con artist behind the scam is believed to be Twitter account NazareAmarga, also known as Gabriel Marques.
• It is estimated that the scam netted around $110,000 worth of ether (ETH).
Investigation Reveals Wallet Responsible for 114 Meme Coin Scams
An investigation conducted by blockchain sleuths revealed that one address is responsible for launching “114 meme coin scams” in the previous 45 days. According to crypto investigators’ findings, crypto fraudsters have launched fraudulent meme coins increasingly rapidly over the previous two months.
Suspected Con Artist Behind Scam
The suspected con artist behind the scam is believed to be Twitter account NazareAmarga, also known as Gabriel Marques. 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.
Estimated Value of Stolen Funds
It is estimated that the scam netted around $110,000 worth of ether (ETH). ZachXBT followedthe transactions ofthe wallet addressin a discussion onTwitter onApril 26 and observed that stolen funds fromthe scam were sent tothe same deposit addresseach time. As several different wallets were usedto distribute the stolen money, anexact value could not be computed.
Linked Coinbase Account Revealed Personal Identity
Lucrafund another user on Twitterconducted some investigating and shared a snapshot of his findings onthe thread which showedthat partofstolene assets were wired to a Coinbase account revealing critical personal identity raising questions from certain Twitter users about whether Coinbase was unaware or not .
In conclusion it appears that this individual has been carrying out these scams with relative ease due to small amounts being transferred each time making it harder to detect however their use of Coinbase raises further questions about their activities and if they can be held accountable for their actions moving forward.