On-chain detective ZachXBT: A group involved in many blockchain frauds is raising new projects in Blast

This site (120Btc.coM): On-chain detective ZachXBT said that a well-known fraud group has recently launched a new plan on the Blast platform.

This team has committed multi-million dollar fraud on multiple platforms including Magnate, Kokomo and Lendora. According to the latest tracking data, these scammers are using funds obtained from past scams to attract more victims.

Enter Blast! Funding sources and activities of the new scheme

On-chain detective Zach Multiple people participate.

These funds came from previous fraud operations and were transferred to new addresses after being laundered several times. The specific fund flow includes transferring Wrapped ETH from Polygon's 0xAc9 address to the 0x08 address, and then bridging to Base through Orbiter, and finally used for repayment and exchange for LEAP tokens.

Notorious Scammers

These scammers have launched similar schemes in the past on multiple blockchain platforms such as Base, Solana, Scroll, Optimism, Arbitrum, Ethereum and Avalanche. Their usual tactics include letting the total value locked (TVL) grow to millions of dollars before suddenly escaping with the funds (rug pull), and concealing the truth by forging KYC documents and using low-level auditing firms.

The community has to be on guard

Chain detective ZachXBT reminds us that community members need to be extra vigilant in the face of this kind of serial fraud. Investors should carefully check the background of any new project, especially those involving new platforms or the transfer of large amounts of funds. Making sure you keep track of where your money is coming from and where it's going can help identify potential risks and avoid falling victim to scams. In addition, working with a well-known and reputable audit firm can further safeguard the investment.

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