One person alone had made 114 shitcoins, then rug-pulled those and send all the stolen funds to one address, in just two months now.

As we seem to be on the peak of our memecoin season once again it is worth it to remember that the probability of you immediately being scammed in that space is very high. Mostly because you can, through various sides, create a shitcoin in just some seconds and put it on the market. Obviously some have been using this technique to scam many people.

One person in particular has made over 114 shitcoins over just the last 1.5 months. His technique was always the same: Make the shitcoin, let it pump a bit, rug-pull and steal funds, send it to the same address, then send it all the Coinbase. Yeah, the scammer is literally just sending it all to Coinbase to profit off it.

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Data Collected by ZachXBT, showing many shitcoins created by that one person.

Thanks to the amazing ZachXBT we could now find his crimes and countless shitcoins he had made just to scam people our of it. Here is one example of that with chart:

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One Shitcoin rugpull as an example

It is truly amazing how easy it is to scam people and with how much you can get away. This is one reason why I don‘t like to play with shitcoins, behind every shitcoin is just a face who made that in a few minutes and is waiting to pull the scam. Stay safe out there…