Popular on-chain detective ZachXBT recently accused two growing Twitter accounts of carrying out multiple NFT-related scams over the past month.
Analysts laid out the timeline of events on Friday. This includes their sudden rise in prominence and the rag pull they manage to pull off.
As explained by analysts twitter thread On Friday, Twitter will handle @radako When @Fitz_lol From the end of last month, I suddenly started using NFT’s profile picture and tweeting about NFT.
Both accounts appear to have joined Twitter years ago, but their follower accounts skyrocketed to tens of thousands in the weeks that followed. For example, Radako’s follower count increased from 2,806 to 47,021 between December 18th and December 26th, while Fit’s follower count increased from 6,496 to 32,793 between January 3rd and January 11th. Increased in people.
ZachXBT believes these accounts have been sold or stolen, explaining the sudden turn of events.
“Shortly after they botched their engagement and started making cringy tweets promoting the six-plus rug projects they created,” he said. Users can then follow @FatNutzETH to receive “free mints”.
Analysts said they can confirm that these two accounts used on-chain data to create projects. His Ethereum address associated with Radako’s profile picture is only “one hop away” from his Ethereum contract address of the deployer connected to his NFT rug at Fitz. The latter also @TrippyFrogsNFT When @Fat Nutz ETH.
“In total, these projects created by the scammers have generated around 40 ETH in just a few weeks,” he continued. This is worth around $64,000 at the time of his writing.
many twitter users Heads up to a project that Radako and Fitz advertised as being a scam after having their rug pulled. ZachXBT warned his followers not to follow, tweet or reply to “random his NFT accounts” just because they have a large number of followers.
most common scams
Kim Grauer, Researcher at Chainalysis, July 2022 warned Classic investment scams that promise unrealistic returns are still the most common and profitable in the industry.
But more sophisticated scams, including romance and business/government impersonation scams, netted over $300 million in thieves between January 2021 and March 2022.
NFT scams often occur after influential and trustworthy social media pages have been compromised. For example, multiple of her NFTs from the Bored Ape Yacht Club were stolen following the group’s hack. Instagram April, and its another discord in june.
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