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Solana

ZachXBT

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/zachxbt-solves-gcrclassic-hack-and-cat-token-connection/" data-wpel-link="internal">ZachXBT Solves GCRClassic Hack and CAT Token Connection</a> 
ZachXBT, a well-known figure among <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, is recognized for solving many mysterious cases. Highly skilled in on-chain and open-source intelligence, he examines the connections between recent events. The CAT and GCRClassic incident occupied the headlines over the weekend. 
<h2 style="text-align: justify" id="gcrclassic-hack-and-cat-token">GCRClassic Hack and CAT Token</h2> 
Yesterday, the GCRClassic account was <a href="https://newslinker.co/category/cybersecurity/" target="_blank" rel="noopener" data-wpel-link="exclude">hacked</a>, and ZachXBT states that this incident is directly linked to CAT on the <a href="https://en.coin-turk.com/solanas-price-surge-analysts-weigh-in-on-future-growth/" data-wpel-link="internal">Solana</a> network. According to a post from his personal account at the time of writing, the incident unfolded as follows. 
<blockquote> 
 “Minutes before the attack, an address linked to them opened a $2.3 million ORDI and $1 million ETHFI long position on Hyperliquid.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class=" wp-image-356260 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/Zack-1.jpg" alt="" width="1241" height="1002"> 
<blockquote> 
 “The Sol ($CAT) team launched their own project by selling over $5 million worth of $CAT, controlling 63% of the supply before transferring the profits to multiple wallets.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-356261 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/Zack-2.jpg" alt="" width="1211" height="877"> 
<blockquote> 
 “The wallet with address 6M54x received approximately 15,000 SOL ($2.5M) from the sold CAT and started depositing funds to Kucoin (4800 SOL) and MEXC (4800 SOL &amp; 1.4 Million USDC) on May 25. 
 Using a timing analysis, I identified similar amounts of funds being withdrawn from two exchanges on Ethereum and Arbitrum shortly after the Solana deposits. 
 0x23bcf31a74cbd9d0578bb59b481ab25e978caa09 
 0x91f336fa52b834339f97bd0bc9ae2f3ad9beade2” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-356262 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/Zack-3.jpg" alt="" width="1235" height="688"> 
<blockquote> 
 “On May 25 at 5:22 UTC, 0x23bc transferred 650K USDC to 0x5e3 and deposited it to Hyperliquid to trade with the perpetrators. 
 On May 26, between 5:45 (UTC) and 5:56 (UTC), 0x5e3 opened a $2.3 million ORDI long position. 
 At 5:55 UTC on May 26, a hacker posted about ORDI from the GCRClassic account, causing the price to rise. The 0x5e3 long position was closed between 5:56 UTC and 6 UTC with a gain of approximately $34,000. At 17:58 on May 26, GCR confirmed from another account that GCRClassic had been compromised. Between 7:04 UTC and 7:12 UTC on May 26, 0x5e3 opened a $1 million ETHFI long position on Hyperliquid.” 
</blockquote> 
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-356264 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/Zack-4.jpg" alt="" width="954" height="1106"> 
<blockquote> 
 “At 7:12 UTC, the hacker posted a new message about ETHFI from the compromised GCR account. 
 Between 7:16 UTC and 7:45 UTC, 0x5e3 closed the long position with a $3500 loss.” 
</blockquote> 
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-356265 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/Zack-5.jpg" alt="" width="1244" height="942"> 
<h2 style="text-align: justify" id="advice-for-cryptocurrency-investors">Advice for Cryptocurrency Investors</h2> 
ZachXBT, known for exposing countless scammers in the crypto world, has his reports even included in US court files. Recently, we wrote about how an IRS agent persistently sought his help to learn the technicalities and tricks of the trade (Zach described this as harassment). Now, ZachXBT offers some warnings to investors and shares the following lessons. 
<ul> 
 <li style="text-align: justify">People should not let a scammer deceive them just because they bought an expensive username and made mysterious posts.</li> 
 <li style="text-align: justify">Stop giving recommendations to those looking for meme coins.</li> 
 <li style="text-align: justify">Examine the process from SIM Swap and phishing scams to meme coin scams, as many are still waiting for their chance to scam.</li> 
 <li style="text-align: justify">Meme coins are manipulated as much as, if not more than, VC coins (just trust me, brother, giant vs. smart contract locked tokens).</li> 
 <li style="text-align: justify">Scammers have low IQs, as evidenced by the latest example.</li> 
</ul> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/zachxbt-solves-gcrclassic-hack-and-cat-token-connection/" data-wpel-link="internal">ZachXBT Solves GCRClassic Hack and CAT Token Connection</a></h5>

ZachXBT Solves GCRClassic Hack and CAT Token Connection

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