Investors in the bitcoin market are recommended to use extreme caution when consulting experts especially well-known ones. Many people use unreported collaborations and covert advertisements to promote enterprises that might not produce as promised . Unwary investors have suffered substantial financial losses in the past due to similar incidents.
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Unveiling the Scam
A recent detailed investigation by ZachXBT of a YouTuber going by the names Blue or Jack discovered potential weaknesses and a $1.5 million harvest .Before reportedly indulging in cryptocurrency frauds in 2021 Blue accumulated more than 122,000 YouTube followers after first being well-known for gaming and trolling videos. Blue’s Snapchat message that was released by ZachXBT connected him to the cool-breeze.eth Ethereum ENS address which was used to buy the Bored Ape Yacht Club (BAYC) NFT #8668 in October 2022 . Over 85 ETH were linked to this address as a result of further investigation which connected it to other addresses linked to the Monkey Drainer phishing scheme.
Blue’s Exploits and Lack of Remorse
Zach claims that Blue routinely brags on Discord about successful frauds and BAYC NFT purchases . Screenshots allegedly taken from internal Discord servers depict Blue educating others on different fraud techniques . The crypto investigator discovered that Blue carried doing frauds with other projects even after losing Blue’s BAYC due to a dispute with Monkey on a particular phishing scheme.
Twitter Spam and Phishing Scams
Zach stressed that spamming with verified Twitter accounts is Blue’s main method of operation . As an illustration a user by the handle @g13m fell into a phishing scam in July and lost almost $213,000 in ETH and USDT on a bogus Doodles NFT site. It is depressing to see these phishing fraudsters act without regret as they spend money they stole to buy pricey goods . The victims have been informed about Blue (Jack) in order to support any legal actions.
