PANews, February 10 — According to Bubblemaps, the winner of the X Creator Competition with a $1 million prize, @beaverd, has been accused of profiting approximately $600,000 through a Memecoin project scam. Investigations revealed that their associated wallet had launched the $SIAS token, which surged to a market cap of $6 million before quickly dropping to zero, and all social media accounts were deleted. Additionally, @beaverd used multiple related wallets to operate, suspected of launching multiple Memecoins and ultimately cashing out.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Flow Foundation applies for a court order, attempting to prevent three Korean exchanges from delisting FLOW
The Flow Foundation and Dapper Labs have applied to the Seoul Central District Court to prevent three Korean exchanges from delisting the FLOW token. The decision stems from a security vulnerability incident last year. Although the foundation stated that user funds were not affected and counterfeit tokens have been destroyed, the exchanges still plan to cease trading support on March 16.
GateNews53m ago
Crypto trader Wesley tracked by anonymous location device, on-chain detective ZachXBT says he will assist in reporting to the FBI
Cryptocurrency trader Wesley revealed on social media that his iPhone detected an unknown tracking device. After inspecting his vehicle, he found a suspicious device and reported it to the authorities. He advised industry insiders to pay attention to phone alerts and enhance security awareness. Renowned detective ZachXBT offered assistance and submitted the report to the FBI.
GateNews2h ago
Flow Foundation Seeks Court Injunction to Prevent Korean Exchange from Delisting FLOW Token
Flow Foundation and Dapper Labs have applied to the Seoul court to suspend the delisting of FLOW from major exchanges, following previous trading halts caused by cybersecurity incidents. Although the event did not affect user balances, it raised concerns about FLOW liquidity and investor confidence. The court will review this application.
GateNews3h ago
DeFi High-Yield Scam Triggers Corporate Crisis! Former CFO Sentenced to 2 Years for Embezzling 35 Million
Former Chief Financial Officer Shetty of a private software company in Washington State was sentenced to two years in prison for secretly embezzling $35 million of company funds to invest in high-risk DeFi projects. His actions led to approximately 60 employees losing their jobs and caused nearly all funds to evaporate due to the Terra collapse. The court ordered Shetty to compensate the company for the losses and to undergo three years of supervision. This incident highlights the need for strengthened regulation of crypto investments.
MarketWhisper4h ago
Research indicates that the transition to post-quantum cryptography could render encryption exchange wallet architectures ineffective
Project Eleven's latest research indicates that under post-quantum cryptography, the current address generation methods used by encrypted exchanges may become invalid. The study shows that systems relying on hierarchical deterministic wallets cannot operate under the new standards, and exchanges will be unable to generate new addresses from public keys.
GateNews4h ago
