An In-Depth Look at a Shallow Scam: Shitruggers Inc.

Shitrugger [noun]:

- An individual or group who creates and rugs shitcoins as a career.

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I have been stalking scammers on Ethereum and its layer 2's for several months. I have contacted a few exchanges as well as the Secret Service's Financial Crimes department in a effort to put a stop to some of these scammers. Unfortunately, I have had either zero response or they were unable to help. But that hasn't stopped my blockchain voyeurism.

The latest shitrugger I have been watching (and is still currently active) has me hopeful again that maybe, just maybe, I can cause the downfall of these assholes. Behold, a hard-to-read visualization of the shitrugger I have dubbed Asshole:

Asshole's CEX connections

The above image is from Arkham Intelligence, an incredibly useful tool for stalking blockchain addresses. What you are looking it is the flow of Assholes money. Why I'm hopeful of their downfall is because Asshole has been using at least FIVE major CEX's as financial hubs: Coinbase, Binance, Kucoin, MEXC, and Bybit. Never have I seen a shitrugger use so many major institutions at once. Let me explain the messy image a bit:

Start at the little blue Coinbase icon with green lines going to a bubble titled Asshole, ignore all the crap on the far left of the image. That is the origin of this shitruggers funds. Moving right from the Asshole bubble you'll see Gen 2, Gen 3, yadda yadda yadda, up to Gen 28. Those "gens" are all of Asshole's primary wallets. After that initial Coinbase deposit, Asshole would go on to create and rug dozens of shitcoins. After a few days, Asshole would send the money (one large lump sum, very easy to follow) to a new wallet (the next gen), then go on to create and rug more shitcoins. So on and so forth.

The top-center column is all the other CEX's Asshole has used along the way. Notice how all the lines coming from the top column are green, and the bottom column are red. The green lines indicate funds going into the Gen wallets, the red lines are funds going out, aka deposits and withdrawals. Here's an Etherscan image of Assholes first wallet:

Asshole's multiple CEX deposits

Damn near 100 ETH deposited those first few days, using all the big player CEX's. This guy really is an asshole.

It is difficult to determine just how much Asshole has made in this endeavor. I have catalogued about 300 separate wallets they use, depositing and withdrawing into CEX's with all of them. But here's Assholes latest wallet, Gen 28:

Gen 28 as of today

Just over a million US dollars sitting in their wallet. That doesn't include the various Layer 2's they've bridged to, or any of the secondary wallets that has a few ETH sitting in it, waiting to be siphoned off into a CEX.

What bums me out is that I've seen Asshole interact with Coinbase, Binance, Kucoin, Bybit, MEXC, and even Cryptodotcom and OkX, but never have I seen any shitrugger use Kraken. Why that bums me out is because Kraken is the only CEX I've seen summoned here on r/cc. Someone from their Customer Service tends to pop up whenever Kraken is mentioned. I feel like if any CEX could provide answers or help, it'd be them.

My next step is to contact Coinbase, hopefully I have luck with an American company. Kraken, if you're reading this, can I expect any cooperation from a centralized exchange?