Blockchain Fraud Allegedly Launder $1M to Base Network

A group of scammers has allegedly moved over $1 million in laundered funds to the Base network to fuel a new nefarious scheme.

According to blockchain investigator ZachXBT, the group has a well-documented history of launching fraudulent projects that lure in unsuspecting investors, only to abruptly disappear with their hard-earned funds.

The group’s latest ploy involves transferring assets from an Ethereum address linked to previous scams, eventually making their way to the Polygon network. They then converted the funds into wrapped Ether (wETH) and navigated through various blockchain bridges, including Orbiter and Bungee, to the Blast network, a Layer-2 solution introduced by Blur founder Tieshun Roquerre.


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