Beware of MEME coin scam networks: $3.7 million run-away case fully exposed on the blockchain

HashBandit · 2026-01-05T11:40:15+00:00

Security agencies have uncovered a cryptocurrency scam network targeting retail investors, involving multiple fraudulent projects such as $HNUT. Through a KOL's false story of sudden wealth, the manipulation team employed tactics to pump and dump, causing the coin's price to plummet, and aggregated $3.7 million into the same address. Investors should be cautious of promises of easy wealth and carefully analyze the true situation of projects.

HashBandit

2026-01-05 11:40:15

Abstract generation in progress

[CryptoWorld] Security agencies recently conducted an in-depth investigation into a large-scale scam case, revealing a systematic network operating to harvest retail investors across various cryptocurrencies.

The trigger for the incident was the social media promotion of a “get-rich-quick story” by the account ShittymikeSol. On December 29, 2024, this account, claiming to be a developer of the $PNUT project, posted: “First trade after a year of rest, invested $500 in $HNUT, appreciated to $200,000 in one day, and the next day cashed out at the high for a profit of $700,000.” He then guided followers to copy his trades and invited them to join a Telegram group.

Problems quickly emerged. The price of $HNUT plummeted by 99.99%, and the project team seemingly withdrew liquidity and ran away. This pattern is all too familiar — a classic “rug pull.”

On-chain tracking shows that the situation is far more complex beneath the surface. By analyzing early large transactions and suspected “front-running” addresses, security agencies discovered that funds flowed into a wallet previously publicly associated with ShittymikeSol (9B1fR…WZb4). Further investigation revealed that within just eight days, the funds were consolidated into a single address (2hnAT…GUjf), with a total amount of up to $3.7 million. Even the residual funds of the $HNUT project were directed to this address.

Even more alarming, this manipulative team did not operate just once. Further investigation uncovered that they used the same tactics to manipulate dozens of MEME coins, including $SHEKER, $Gonk, $MADURO, $FAFO, $Trump, $DIM, $TRUMP2, $BANGER, $Lily, $ROY, $horge, $WhiteShark, $bork, $bonkdog, $BITPEPE, among others. All these tokens experienced the same “sharp decline,” with all remaining project funds and profits flowing into the same address.

This is not an isolated case but part of a complete scam industry chain. From creating “success stories” → attracting followers → pumping and accumulating funds → dumping at high prices → fund consolidation, every step is carefully designed.

A reminder to investors: Any promises of “easy wealth” should be approached with caution. KOLs leading trades and high-yield stories often hide carefully crafted schemes behind them. Before following the trend, ask yourself three questions: Why does this person want to help me make money? Is the project’s fund flow transparent? Are the historical transaction records genuine?

PNUT-7,87%

TRUMP-4,93%

LIY6,96%

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Whale_Whisperer

· 01-08 07:06

Another classic money-grabbing scheme, turning $500 into $200,000... Who would believe it? Really, this kind of story has been told a hundred times, and someone always falls for it. If a Rug Pull is so obvious, why still follow? Wake up, everyone. In just two days, it plummeted 99.99%. What does that tell us... It can all be checked on-chain, yet people still get scammed. I really have no words. ShittyMike, just the name sounds unreliable... All the "big shots" in the Telegram group are scammers. Trust me.

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NonFungibleDegen

· 01-07 20:27

dude shittymikesol pulling the classic rug on randoms... 500 to 700k lmaooo yeah sure ser, and i'm the next vitalik fr fr

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MetadataExplorer

· 01-06 03:18

Another classic pump and dump run. To put it nicely, it's systematic harvesting; to be blunt, it's a scammer alliance.

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ChainDetective

· 01-05 12:03

It's the same old trick again. How many times have we heard the story of turning $500 into $700,000 and still have people falling for it? 99.99% crash... This is the usual operation in the crypto world, pumping and dumping in a one-stop process. Nothing on the chain can be hidden, it's just that retail investors are too greedy. This ShittymikeSol is just a harvesting machine, there will definitely be a long list of victims behind it. Rug Pulls are never outdated because the retail investors are never absent.

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NftRegretMachine

· 01-05 11:56

Are you at it again? ShittymikeSol, your name is really something. You even admit it yourself, huh? That get-rich-quick script before running away really works every time, someone always falls for it. 500 yuan turning into 700,000 yuan—I've seen too many of these "blessings"... Wait, this time a loss of 3.7 million? Damn, that's a huge scale.

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MetaverseHobo

· 01-05 11:53

Another classic rug pull, this time they made up a story turning $500 into $700,000—ridiculous. --- Shittymike is obviously unreliable, why do people still believe... --- 99.99% crash? Just here to cut leeks, this kind of address should have been blacklisted long ago. --- It's always the same routine—pump and dump then run away. When will these scam gangs be stopped? --- All on-chain exposure—what's the use? These people have already transferred to new wallets to scam the next batch. --- $3.7 million just gone? Luckily, I never had high expectations for meme coins. --- Social proof is the most powerful scam—one fake story can harvest tens of thousands of people. --- I just want to know how many people are falling for obvious scams like copying signals in Telegram. --- No wonder my friends have been asking me about meme coins lately; there's been another big case. --- You can see the flaws just by looking at on-chain data, but retail investors just follow the trend without checking the chain—this is the current situation.

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SolidityJester

· 01-05 11:43

$500 a day to $200,000? Wake up, everyone. This scam is everywhere. It's the same old story: first talk about getting rich quickly, then withdraw the liquidity. Retail investors are always the last to take the fall. 99.99% plummet—that's the daily routine in Web3. Time to learn from it. The veteran scammer is here, and everything is recorded on the chain. You can't escape. Why do these scammers always manage to deceive people? I really can't hold back.

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