In a shocking turn of events, an individual known by the pseudonym ‘Serpent,’ once celebrated as a professional Fortnite player from Australia, has been embroiled in a significant cryptocurrency scam. This scam is believed to have defrauded unsuspecting victims of a staggering $3.5 million. Serpent’s journey in the esports world is noteworthy, having been part of a prominent organization until June 2020, when his career was derailed due to a cheating scandal.
Serpent’s Descent into Crypto Scams
Serpent’s involvement in dubious activities took a notable turn in March 2022, when he co-founded an NFT project named DAPE. This venture quickly turned into a ‘rug pull,’ marking the beginning of his controversial path. By March 2024, Serpent was involved in another project called ERROR, which also ended in a rug pull. This led to his banishment from X, the platform previously known as Twitter.
Tracing the Scams and Funds
An extensive investigation conducted by on-chain investigator ZachXBT has shed light on the intricacies of Serpent’s fraudulent operations. The analysis revealed that Serpent utilized the deployer address 0x8…120ee8 to orchestrate these heists. Notably, on October 23, 2024, this address was used to transfer 29 ETHs to instant exchanges. The investigation further unveiled that all these funds were connected to a Solana deposit address linked to a casino.
Serpent had a history of investing substantial sums, sometimes tens of millions of dollars per month, in platforms such as Roobet, Stake, BC Game, and Shuffle. He frequently shared his gambling sessions on Discord, where leaked recordings exposed various deposit and withdrawal addresses, directly implicating him in these scams.
Top Profile Account Break-ins
Serpent’s illicit activities extended beyond individual pursuits, as he targeted high-profile accounts. His operations were not confined to personal swindling; numerous account takeovers (ATOs) have been linked to him. Notable figures such as McDonald, Andy Ayrey, Dean Norris, and even Enoshima Aquarium were affected. Furthermore, the situation surrounding the compromise of Andy Ayrey’s account was complicated by the involvement of another actor, identified only as “Dex” from Massachusetts, USA. Dex reportedly became apprehensive after being exposed during a Telegram investigation.
Efforts to Evade Detection
As the scandal unfolded, Serpent took measures to erase his digital footprint by removing posts from his new X account following the publication of the exposé. Despite these efforts, the financial trails of the scams remain traceable to certain addresses associated with him. Serpent’s dramatic fall from grace underscores the ongoing vulnerabilities within the digital space. Authorities caution that more such compromises may be linked to the blockchain, urging the public to remain vigilant against such sophisticated cons.
In conclusion, the case of Serpent serves as a stark reminder of the potential dangers lurking in the world of cryptocurrency and online transactions. As the digital landscape continues to evolve, it is imperative for individuals and organizations alike to stay informed and exercise caution to safeguard against fraudulent activities.
