Gamer Accused of Stealing $3.5 Million in Crypto Fraud

SerpentAU, an Australian Fortnite YouTuber once admired for his gaming skills, is now implicated in a $3.5 million crypto fraud involving meme coin scams.

Blockchain investigator ZachXBT linked SerpentAU to a series of account takeovers (ATOs) targeting prominent figures and organizations, such as McDonald’s and the creator of the Kabosu meme coin.

These hacked accounts promoted fraudulent cryptocurrencies, duping investors and funneling the proceeds to wallets tied to SerpentAU, who reportedly used the funds on gambling platforms like Stake and Roobet.

SerpentAU’s fall began in 2020 when he was dropped from Overtime Gaming after cheating allegations. By 2022, he co-founded blockchain projects like DAPE and ERROR, both of which collapsed under accusations of fraud. His transition to crypto scams deepened, leaving victims with significant financial losses and tarnishing his reputation further.

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The revelations also shine a spotlight on the evolving methods of crypto fraud, where hackers exploit trusted social media accounts to target unsuspecting followers. This case serves as a cautionary tale about the dangers of unchecked influence and the need for better safeguards on digital platforms.

For many, the scandal represents not only financial loss but also a breach of trust in public figures. Meanwhile, ZachXBT’s investigation is yet another reminder of the vulnerabilities within the crypto space and the ongoing battle to expose its darker side.

Alexander Stefanov