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On-chain investigators have uncovered the malicious actors behind the crypto investor Gigantic-Cassocked-Rebirth (GCR) X (Twitter) account hack and the Caitlyn Jenner token launch.

Analysts ZachXBT and Roxo’s detailed investigations exposed hackers’ coordinated effort to manipulate token prices for profit. These revelations highlight the need for transparency, accountability, and enhanced security in increasingly sophisticated crypto scams.

ZachXBT linked the Solana (SOL) meme coin CAT team to the GCR hack. He found an address linked to the CAT team that had used funds from a token launch. They opened long positions in ORDI and Etherfi (ETHFI), making over $30,000 despite some losses.

According to ZachXBT, the CAT team controlled 63% of their token supply, selling over $5 million of CAT and transferring the profits to multiple wallets. A wallet address 6M54xEUamVAQVWPzThWnCtGZ7qznomtbHTqSaMEsUHPF received approximately 15,000 SOL ($2.5 million) from the CAT sales and began depositing funds worth 4,800 SOL (~$800,000) to crypto exchange KuCoin. This address also deposited 4,800 SOL and 1.4 million USDC to the crypto exchange MEXC on May 25.

Using timing analysis, ZachXBT connected withdrawals from exchanges on Ethereum and Arbitrum to the Solana deposits in similar amounts. On May 25 at 17:22 UTC, wallet address 0x23bcf31a74cbd9d0578bb59b481ab25e978caa09 transferred 650,000 USDC to 0x5e3edeb4e88aafcd1f9be179aa6ba2c87cbbadc8 and deposited it to Hyperliquid to trade perpetuals. Furthermore, on May 26, from 17:45 to 17:56 UTC, wallet address 0x5e3 opened a long position for ORDI, valued at $2.3 million.

Read more: Crypto Social Media Scams: How to Stay Safe

On the same day, at 17:55 UTC, a hacker from GCR’s compromised account posted about ORDI, causing the price to spike. 0x5e3 closed the long position from 17:56 to 18:00 UTC for a profit of approximately $34,000. As GCR confirmed that their account was compromised at 17:58 UTC, from 19:04 to 19:12 UTC, 0x5e3 opened a $1 million ETHFI long position on Hyperliquid.

At 19:12 UTC, the hacker made a new post about ETHFI from the compromised GCR account. From 19:16 to 7:45 pm UTC, 0x5e3 closed the long position for a loss of $3,500.

Around the same time, Caitlyn Jenner, the former Olympic athlete and member of the Kardashian-Jenner family, announced her token, JENNER. Her X (Twitter) and Instagram accounts revealed the launch, sparking debate and suspicion, especially after Jenner asked the crypto community to send some of their “favorite meme coins” to a wallet address she shared.

The concerns prompted the crypto community to invite Jenner to a Twitter Space discussion, but she could not attend. Instead, Jenner’s manager, Sophia Hutchins, spoke on her behalf.

Hutchins explained that their middleman, Sahil Arora, was responsible for launching the token. However, according to the on-chain data, after Jenner promoted it, Arora dumped all the tokens from the deployer wallet and other wallets he had used.

Hutchins revealed that Arora held all the tokens for them and made Jenner post a tweet asking people to send tokens to a designated address. On-chain sleuth Roxo confirmed that Arora had successfully executed five influencer rug pulls that week.

“He launched ZUMI with model Kazumi. He launched RICH with rapper Rich the Kid. He launched DOLL with model Ivana Knolldoll. He launched SOULJA for artist Soulja Boy, all connecting to his main address 7s3v1jP9o1qZgovd4i9QfKej7is4cLV3uSbqKCNZN9rh,” Roxo wrote.

Jenner took to X to confirm Arora’s scam. She assures the community that she and her team will continue to work on the JENNER token.

“That doesn’t mean I won’t be investing and continuing to promote JENNER—but Sahil appears to be fully out at the moment. It’s Solana Summer! JENNER isn’t going anywhere but up! Especially now, that [Sahil] isn’t involved. I bet he won’t be launching many celeb coins again based on the conversations I’ve been having!” She said.

Read more:  Crypto Scam Projects: How To Spot Fake Tokens

Australian rapper Iggy Azalea also admitted that she had been in contact with Arora. However, she implied their discussion did not progress further.

The post On-Chain Sleuths Unmask GCR Hackers and Caitlyn Jenner Token Fraud appeared first on BeInCrypto.

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