Crypto investigators have discovered that crypto fraudsters have been launching fraudulent meme coins at an alarming rate over the past two months. The Twitter account NazareAmarga, also known as Gabriel Marques, has been identified as one of the culprits behind this trend. Marques is believed to have created a malicious meme coin to scam owners of authentic Nakamigos NFT project tokens.
ZachXBT, an independent blockchain detective, recently traced the transactions of the wallet address associated with the scam. He found that stolen funds from the fraud were consistently sent to the same deposit address.
However, because the suspected con artist used several different wallets to distribute the stolen money, the total amount of the theft could not be determined.
In a unique twist, ZachXBT has also discovered another possible con artist using the wallet address tattooed on Marques’s back. This address is thought to have stolen approximately $110,000 worth of ether (ETH).
Lucrafund, another Twitter user, has also conducted an investigation into the matter. He shared a snapshot of his findings on Twitter, which revealed that the “criminal mastermind” had transferred some of the stolen assets to a Coinbase account. This raised questions about the extent to which Coinbase was aware of the fraud.
Another Twitter user named CoinGurruu has also shed light on the situation. He shared a message revealing that the accused scammer’s wallet handle had launched 2-5 meme coin rugs every day for nearly two years.
The rise in fraudulent meme coins is a concerning trend in the world of cryptocurrency. Investors should be vigilant and cautious when investing in any new projects, particularly those associated with meme coins or social media influencers.