ZachXBT Warns New Token Project Links To Known NFT Scammers

The Coin Republic
The Coin Republic
SOL-3.06%

Key Insights:

  • ZachXBT warned that the Web3 token project was linked to team members behind the 2022 Squiggles NFT scam.
  • Web3 employed a controversial deposit-for-airdrop strategy that gained notoriety after the Book of Meme episode in 2024.
  • Squiggles NFT was exposed as a $20 Million scam. Utilizing shadow wallets to inflate trading volume in the lead-up to its launch.

Blockchain investigator ZachXBT issued a community alert after discovering that a new project called Web3 was connected to alleged scammers. They were tied through previous rug pull operations that had drained millions from unsuspecting investors.

The warning came after Web3 announced a token airdrop on Aug. 27 via X. Using a deposit strategy that required users to send SOL tokens to receive airdrops back to their wallets.

ZachXBT replied the following day with a direct warning. He stated that Web3 was linked to a team member of the Squiggles NFT...

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