Blockchain Detective ZachXBT: Participating Group in Multiple Blockchain Scams Raises Funds for New Project at Blast
Chain detective ZachXBT stated that a notorious fraud group has recently launched a new project on the Blast platform.
This team has engaged in fraud activities worth millions of dollars on multiple platforms including Magnate, Kokomo, and Lendora. According to the latest tracking data, these scammers are using the funds obtained from previous frauds to attract more victims.
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Funding and activities of the new Blast project
Infamous fraud group
Community must be vigilant
Chain detective ZachXBT stated that last week, the fraud group transferred approximately $1 million in laundered funds to an address on the Blast platform and started increasing liquidity to lure more people in.
These funds come from previous fraudulent activities and have been laundered multiple times before being transferred to the new address. The specific flow of funds includes transferring Wrapped ETH from the 0xAc9 address on Polygon to the 0x08 address, and then bridging it to Base through Orbiter, ultimately used for repayment and LEAP token exchange.
These scammers have previously launched similar projects on multiple blockchain platforms such as Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, and Avalanche. Their usual tricks include increasing the Total Value Locked (TVL) to millions of dollars and then suddenly rugpulling, while covering up the truth through forged KYC documents and low-level auditing companies.
Chain detective ZachXBT reminds the community members to be extra cautious in the face of these serial fraud activities. Investors should carefully examine the background of any new project, especially those involving new platforms or large fund transfers. Ensuring the tracking of funds’ source and destination can help identify potential risks and avoid becoming victims of fraud. Additionally, collaborating with reputable auditing companies can further safeguard investment security.
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scam
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