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 .