“Online Detective ZachXBT Uncovers GCR Account Hacker: Low Intelligence Evident from Poor Execution”

"Online Detective ZachXBT Uncovers GCR Account Hacker: Low Intelligence Evident from Poor Execution"

"Online Detective ZachXBT Uncovers GCR Account Hacker: Low Intelligence Evident from Poor Execution"

Last night, the well-known trader GCR’s X account was hacked and released tweets about tokens such as ORDI, ETHFI, and Luna2.0, causing these tokens to rapidly surge in a short period of time until GCR himself confirmed that the tweets were false and quickly retracted.

Regarding this incident, blockchain detective ZachXBT recently posted an article stating that the team behind the Solana meme token CAT may be involved in this event.

ZachXBT pointed out that prior to this, the team was found to have dumped their own CAT tokens (controlling 63% of circulation), with a total value of approximately $5 million. These funds were later distributed to several wallet addresses. Among them, the address starting with 6M54 received about 15,000 SOL tokens (approximately $2.5 million) and sent funds to Kucoin and MEXC exchanges on May 25.

By examining the timing of deposits and withdrawals on exchanges, ZachXBT discovered two Ethereum addresses that coincided with the deposit time of 6M54. Further investigation revealed that some funds from these two addresses were transferred to the DeFi protocol Hyperliquid, and long positions of $2.3 million in ORDI and $1 million in ETHFI were opened before and after.

After this series of operations, the address made a net profit of $34,000 when closing the $2.3 million ORDI long contract, but the $1 million ETHFI long contract not only did not make money but also incurred a loss of $3,500 when closing.

Finally, ZachXBT made five conclusions regarding this incident:
1. People allowed a scammer to deceive them out of a seven-figure sum just because the scammer purchased an expensive username and posted some mysterious tweets.
2. Stop providing platforms for meme coin pumpers.
3. Study the transition path from SIM card swap/phishing scammers to meme coin scammers. Many scammers have started to change lanes because this type of fraud is still relatively easy to carry out.
4. The level of manipulation in meme coins is as high as, if not higher than, that of VC coins.
5. Scammers have low intelligence, as evidenced by their poor execution.