ZachXBT Exposes $2M Memecoin Heist, Targets ANDY Holders

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ZachXBT Exposes $2M Memecoin Heist, Targets ANDY Holders
  • ZachXBT spotted a crypto theft involving approximately $2 million worth of memecoins.
  • The thief had exchanged about half of the stolen crypto to ETH, transferring them to new wallets.
  • Memecoin hacker drained the victim’s wallet in three transactions in under one minute.

Blockchain sleuth ZachXBT uncovered a crypto theft targeting roughly $2 million worth of memecoins. In a post, the investigator revealed the thief exchanged half the stolen assets for Ethereum (ETH) and transferred them to new wallets.

ZachXBT shared a transaction diagram, a hallmark of his investigations. It showed the remaining stolen funds held in ANDY, a memecoin on the Base network. At the time of the report, the hacker held 4.2 billion ANDY, valued at approximately $1 million.

The investigation revealed the hacker stole the memecoins via three separate transactions within a minute. The stolen crypto was consolidated into a single wallet before being dispersed across five new addresses over multiple transactions. This transfer process took under 30 minutes.

The report highlights a couple of secondary transfers, with the most significant involving 8.38 ETH sent to a new wallet. The other involved a portion of the stolen memecoins.

ZachXBT’s alert coincides with surging interest in the memecoin sector fueled by the ongoing crypto market speculation. Many traders view memecoins as a potential source of quick profits due to their history of rapid price increases.

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