As rumors intensified, pseudonymous crypto sleuth ZachXBT shared ETH addresses linked to the Pixel Penguin NFT collection, showing that the contract had amassed nearly 61.6 ETH, or about $117,000. Two hours later, ZachXBT shared that 63.5 ETH, nearly $119,000, of the funds earned from the project were distributed across two new wallet addresses. While users who had been duped rushed to figure out how to recoup their losses, the scammers apparently deposited funds into a wallet on cryptocurrency exchange OKX, further obfuscating their paper trail.

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Author: Cam Thompson

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