A scammer creates dubious Memecoins with strange messages every day. He sends the stolen Ethereum to Coinbase. According to “online detective” @ZachXBT, one scammer launched around 114 projects in the past 45 days alone.
Almost three scams a day in a month and a half: User ZachXBT publicizes the work of a diligent scammer on Twitter. According to our counts on Etherscan, he has stolen over 200 ETH, with an equivalent value of almost €350,000. Other users speak of 60 ETH for around €100,000. The scammer creates dubious Memecoins, collects Ethereum, and then sends them directly to Coinbase: the classic rug pull.
The address of the scammer is 0x739c58807B99Cb274f6FD96B10194202b8EEfB47. It is not known whether it is an individual or a group. Also, what happens to the money once it reaches Coinbase can only be speculated now. Since the exchange requires its users to identify themselves (Know Your Customer, or KYC for short), some users on Twitter are demanding that Coinbase make the identity of the scammer public. So far, Coinbase has not commented on this. It is also possible and likely that the scammer has bought a fake identity and is using it for his scams.
According to the developer and Twitter user @Umbrella, the profit per scam is minimal. According to his calculations, the scammer earns around 0.2 Ethereum per Rug Pull, about €350. So he “only” collected 60 Ethereum, about €100,000.
He also writes strange messages in the smart contracts of his Memecoins, like “Elon tweets: Yeah.” Or “Create a community and take Machi to the sky.”