March 27, 2024
Crypto Investigator ZachXBT Exposes 'Scaredofboobs' as Alleged NFT Scammer

Crypto Investigator ZachXBT Exposes ‘Scaredofboobs’ as Alleged NFT Scammer

In a shocking turn of events, Tyler Gaye, also known as the X user scaredofboobs, has been exposed as the alleged mastermind behind the NFT Machine scam, according to a report by on-chain investigator ZachXBT. The report, shared on ZachXBT’s official Telegram channel on December 28, claims that “X/Twitter User scaredofboobs is a scammer known as NFT Machine.”

NFT Machine, previously an X account run by the founder of OpenFT, a decentralized marketplace project, faced suspension on X for “violating [its] rules.” Further investigation revealed that Tyler Gaye, a doxxed American citizen and resident of Denver, was allegedly behind the NFT Machine account.

According to a February 2022 thread by crypto investor Shual, Gaye faced legal action from investors who accused him of orchestrating a fraudulent scheme. The lawsuit claimed that Gaye raised $55,000 from investors under the guise of developing the OpeNFT marketplace. However, instead of delivering on the promised project, he allegedly diverted the funds to amass a personal collection of nonfungible tokens (NFTs), including items from the MoonCats collection.

The lawsuit unfolded as investors hired a private investigator to locate Gaye, resulting in the discovery of his home address. Despite a court order requiring him to repay $55,000 to investors, along with an additional $55,000 in damages and $165,000 in punitive damages, Gaye failed to appear in court. A default judgment was subsequently issued against him.

In a bizarre twist, scaredofboobs, the X user known for contributing open-source code related to Solana smart contract development and the developer of the web-based retro gaming platform Gamegear, has been identified by ZachXBT as Tyler Gaye. The report suggests that Gaye has not fulfilled the court-ordered repayments and has continued to venture into new cryptocurrency projects.

ZachXBT highlighted one such project, ArcadeDAO, as evidence of Gaye’s ongoing involvement in the crypto space. This revelation adds a layer of complexity to the narrative surrounding the accused scammer.

ZachXBT, who previously exposed the prevalence of SIM-swap attacks resulting in over $13 million worth of crypto theft, made his damning revelation about scaredofboobs on December 18. Since then, he briefly deactivated his X account on December 24, leading to impersonators creating fake accounts in his name. Although ZachXBT’s account has been reactivated, no posts have been made since December 18, leaving the community on edge for further updates.

It remains to be seen how these allegations against Tyler Gaye will impact the broader crypto community, but the incident serves as a stark reminder of the risks associated with investment in the decentralized and often anonymous world of cryptocurrencies.


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