2023-04-28
A Twitter user called ZackXBT reported that an address 0x739c58807B99Cb274f6FD96B10194202b8EEfB47 has created 114 meme coins in a period of 45 days.
Meme coins
are a type of cryptocurrency that is based on a popular internet meme, such as
Dogecoin, Shiba Inu, and Pepe the Frog. Meme coins are usually created for fun
or as a joke, but some of them have gained significant value and popularity
among investors and traders.
Every time the funds have been stolen; they will be sent to the same wallet address. That address is 0x739c58807B99Cb274f6FD96B10194202b8EEfB47. The scammer starts by create meme coins and gradually rug pulls day by day.
A rug pull
is a type of scam in which the developers or promoters of a project abruptly
withdraw their funds or tokens from the market, leaving the investors with
worthless or significantly devalued assets. Rug pulls are often associated with
decentralized finance (DeFi) projects.
In this
case rug pulls come from meme coins. Rug
pulls can cause significant losses for investors and damage the reputation of
the tokens.
