ZachXBT issues a community warning: potential fraud in web3 Token presales.

BlockBeats news, on August 28, on-chain detective ZachXBT issued a community warning that the crypto project web3 (@web3), which is conducting a token presale, is linked to members of the 2022 Squiggles NFT scam team and the previously notorious Raichu (Ryan), suggesting that this presale may be a scam. On February 11, 2022, the NFT project squiggles allegedly used a series of shadow wallets to purchase NFTs of the project, creating a large number of fake transactions, which were later delisted by OpenSea. Raichu (Ryan) has been involved in multiple cryptocurrency and NFT project frauds, collaborating with Lil Xan to promote Baller Ape Club (BAC), which was later accused of a $26 million scam, with the founder being prosecuted by the U.S. Department of Justice (DOJ). He also collaborated with Rich The Kid to promote Ancient Cats Club, which rug-pulled shortly after launch, stealing $1.7 million.