In the world of gaming and cryptocurrency, few stories are as captivating and cautionary as that of the threat actor known as ‘Serpent’. Once a professional Fortnite player from Australia, Serpent’s journey took a dark turn as he became embroiled in a series of crypto scams that reportedly amassed $3.5 million. His association with a prominent esports organization marked the early phase of his career until he was dismissed in June 2020 due to a cheating scandal.
In March 2022, Serpent co-created the NFT project DAPE, marking the beginning of his foray into deceptive practices. This project, unfortunately, turned out to be a rug pull, setting the stage for further dubious ventures. By March 2024, Serpent had launched another project named ERROR, which also ended in a rug pull and resulted in his ban from the platform X (formerly Twitter).
Tracing the Scams and Funds
Comprehensive research by an on-chain investigator, ZachXBT, shed light on Serpent’s operations. The findings revealed that Serpent utilized the deployer address 0x8…120ee8 for his fraudulent activities. On October 23, 2024, this address was used to send 29 ETHs to instant exchanges, uncovering a pattern of transactions that pointed to a shared Solana deposit address linked to a casino.
Serpent’s activities extended to substantial investments in various online platforms, including Roobet, Stake, BC Game, and Shuffle, where he also conducted broadcasts on Discord. These sessions inadvertently led to leaks of recordings, which exposed different deposit and withdrawal addresses, further incriminating him.
Top Profile Account Break-ins
Beyond targeting individuals, Serpent’s operations encompassed a broader range of account takeovers (ATOs). His activities were linked to several high-profile account breaches, involving figures such as McDonald, Andy Ayrey, Dean Norris, and even the Enoshima Aquarium. The situation was further complicated by another actor, identified only as “Dex” from Massachusetts, USA, who reportedly became uneasy after being implicated in a Telegram investigation.
Efforts to Evade Detection
As the investigation unfolded, Serpent attempted to cover his tracks by deleting posts from his new X account following the exposé. However, the financial trail from the scams remained easily traceable to specific addresses under his control. This saga of deceit highlights the ongoing challenges within the crypto space, as authorities work tirelessly to link these complex compromises to the blockchain, urging the public to exercise caution against such elaborate scams.
The story of Serpent serves as a stark reminder of the vulnerabilities in the digital world, where the line between virtual and reality can blur, and vigilance is essential to protect against those who exploit these spaces for personal gain.
