CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
Cryptoknowmics 2023-07-10 10:45:27

ETH Fraudster Makes Over $315K on Meme Coin Scam

Using a strategy of creating and then abandoning meme coins, an unidentified con artist has acquired more than $315,000 worth of Ethereum (ETH). In a series of tweets, blockchain analysis platform Lookonchain revealed the scheme’s tactics and provided Etherscan links to the four meme coins TOMMY, KSI, ZUCK, and BILL. Fraudster minted 2 new image coins with just $3,200 in ETH The fraudster’s business as usual involved the production of an image coin with a limited quantity of ETH, giving liquidity to acquire financial backer trust. The con artist would remove the liquidity once sufficient investment was attracted, effectively taking The post ETH Fraudster Makes Over $315K on Meme Coin Scam appeared first on Cryptoknowmics-Crypto News and Media Platform .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.