Unveiling the Deception: Revelations of GCR X Account and Caitlyn Jenner Token Scams 🕵️♂️
Unraveling the mystery behind the GCR X account hack and the launch of the Caitlyn Jenner token, on-chain investigators have exposed the nefarious activities of malicious actors. The detailed investigations conducted by analysts ZachXBT and Roxo shed light on the coordinated efforts of hackers to manipulate token prices for personal gain. Recognizing the importance of transparency, accountability, and heightened security measures has become imperative in combating increasingly sophisticated crypto scams.
Solana Meme Coin Team Implicated in GCR Hack and Token Manipulation 🕵️♂️
- ZachXBT’s investigation revealed the involvement of the Solana (SOL) meme coin CAT team in the GCR hack.
- An address linked to the CAT team engaged in fund utilization from a token launch by initiating long positions in ORDI and Etherfi (ETHFI), yielding profits exceeding $30,000.
- The CAT team wielded control over 63% of their token supply, selling over $5 million of CAT and transferring the proceeds to multiple wallets.
- An identified wallet address received significant sums from the CAT sales, depositing funds to crypto exchanges like KuCoin and MEXC.
- Using timing analysis, ZachXBT connected withdrawals from Ethereum and Arbitrum exchanges to Solana deposits, illustrating a pattern of orchestrated transactions.
Connecting Jenner’s Token to Influencer Rug Pulls Through On-Chain Investigation 🕵️♂️
- Caitlyn Jenner, a prominent figure, ventured into the crypto space by introducing the JENNER token, sparking mixed reactions within the community.
- After urging individuals to send popular meme coins to a designated wallet address, suspicions arose regarding the token launch.
- Despite Jenner’s absence, her manager, Sophia Hutchins, addressed concerns by attributing the token release to their middleman, Sahil Arora.
- On-chain analysis revealed that Arora engaged in influencer rug pulls, exploiting connections with celebrities like Kazumi, Rich the Kid, Ivana Knolldoll, and Soulja Boy.
- Jenner acknowledged Arora’s fraudulent activities and assured the community of continued efforts to uphold the JENNER token’s integrity.
Hot Take: Strengthening Vigilance Against Deceptive Crypto Schemes 🕵️♂️
As the crypto landscape evolves, vigilance against deceptive schemes paramount. On-chain investigations have elucidated the manipulative tactics employed by malicious actors, emphasizing the essentiality of transparency and security measures in safeguarding the community against scams. By staying informed, proactive, and discerning, crypto enthusiasts can navigate the space with greater resilience and protect their investments from fraudulent actors.
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