On-chain analyst ZachXBT suspected the participation of a blogger in a scam

hack_a-min
hack_a-min

Known as Blue and Jack, the influencer participated in Monkey Drainer and other similar phishing schemes, generating over $1.5 million in revenue. came blockchain analyst under the pseudonym ZachXBT.

The Monkey Drainer project sells a set of ice phishing tools. This is what CertiK called a scam where Web3 users are tricked into signing an approval to use a crypto wallet, giving them full access to the funds.

With 122,000 YouTube subscribers, Blue built an audience through games and trolling videos before turning to digital assets in 2021.

According to the researcher, the leaked messages from the blogger’s Snapchat showed his connection with the cool-breeze.eth ENS address, which acquired the Bored Ape Yacht Club 8668 token in October 2022.

After studying the history, ZachXBT came to the conclusion that about a third of the 85 ETH spent on the purchase formed funds associated with wallets associated with Monkey Drainer. The total damage from this scheme amounted to $24 million.

In February, the service stopped working with a parting word: “all young cybercriminals should not lose themselves in pursuit of easy money.” The creators suggested using an alternative Venom resource.

According to ZachXBT, Blue has often bragged about successful scams and buying BAYC by showing screenshots of discord scam training.

After an alleged row with other Monkey members over the theft of his token, Blue switched to other similar schemes under new ENS addresses. The influencer was proud of his stolen-funded purchases, from watches to cars to Roblox items.

Blue’s primary method was to spam Twitter from verified accounts.

As an example, ZachXBT cited the story of user g13m, who lost ~$213,000 of ETH and USDT in July due to the Doodles NFT phishing site. Blue could “earn” 49 ETH and 74,000 USDT from this after paying fees for using the service.

“Gived additional information about Blue (Jack) to victims to help file legal action” concluded researcher.

Recall that in October 2022, ZachXBT discovered that scammers from Monkey Drainer emptied the wallets of victims by about $ 1 million in just 24 hours.

The on-chain sleuth was previously sued in a libel suit by Taiwanese entrepreneur Geoffrey Huang. The specialist set up a donation address and asked the audience for help with legal costs that “could easily exceed $1 million.” He was supported by prominent representatives of the industry.

Found a mistake in the text? Select it and press CTRL+ENTER

ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!

.

Leave a Reply