ZachXBT, an online detective, stated that a notorious scam group has recently launched a new project on the Blast platform. This team has previously engaged in fraudulent activities worth millions of dollars on various platforms, including Magnate, Kokomo, and Lendora. According to the latest tracking data, these scammers are using the funds obtained from previous scams to attract more victims.
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Funding and Activities of the New Blast Project
Infamous Scam Group
Community Must Remain Vigilant
ZachXBT, the online detective, stated that last week, the scam group transferred approximately $1 million of laundered funds to an address on the Blast platform and began increasing liquidity to entice more people to participate.
These funds come from previous fraudulent activities and have been transferred to a new address after several rounds of money laundering. The specific flow of funds includes transferring Wrapped ETH from the 0xAc9 address on Polygon to the 0x08 address, and then bridging it to Base through Orbiter, ultimately used for repayment and LEAP token exchange.
These scammers have previously launched similar projects on multiple blockchain platforms such as Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, and Avalanche. Their usual tricks include increasing the Total Value Locked (TVL) to millions of dollars and then suddenly pulling out the funds (rugpull), using forged KYC documents and low-level auditing companies to cover up the truth.
ZachXBT, the online detective, reminds the community members to remain extra vigilant in the face of these continuous scam activities. Investors should carefully examine the background of any new project, especially those involving new platforms or significant fund transfers. Ensuring the traceability of funds can help identify potential risks and avoid becoming victims of fraud. Additionally, collaborating with reputable and well-known auditing firms can further secure investment safety.
Blast
Scam
ZachXBT
Further Reading
Suspected North Korean Hacker Team Munchables, Certified Project by Blast, Hacked for $60 Million
Developer Tokens Pre-Sale Embezzled €900,000, Zach: Have Access to Data and Welcome Victims to Sue