Mysterious Fraudster Plunders $315K in Ethereum Via Meme Coins

An unidentified scammer has been detected siphoning off 315,000 dollars worth of Ethereum by creating various memecoins in the market, much like a bird hunting its prey. This nefarious strategy involves launching these memecoins and then draining the provided liquidity for high profits. Approximately 170 ETH Drained with 4 Altcoins Blockchain analysis platform Lookonchain has revealed the tactics of the scammer who defrauded $315,000 via a series of tweets. According to Lookonchain, the fraudster created 4 altcoins named TOMMY, KSI, ZUCK, and BILL to lure investors. The scammer’s methodology relies on creating a memecoin with a small amount of Ethereum while providing liquidity to gain investors’ trust. Once a sufficient amount of investment is pulled in, the provided liquidity is withdrawn, with the scammer effectively claiming the entire investment made into the altcoin. For the creation and liquidity provision of the TOMMY memecoin, the scammer withdrew 1.5 ETH (worth $3,200 […] The post Mysterious Fraudster Plunders $315K in Ethereum Via Meme Coins appeared first on COINTURK NEWS.