Thread by @SpecterAnalyst

Fred Krueger and Ben Sigman: The Midnight Heist That Netted $292k on $SAB121

Fred Krueger (@dotkrueger ) and his associate Ben Sigman (@bensig) executed a heist in the middle of the night, making $292,000 by sniping 67% of the #SAB121 token supply.

Fred also profited an additional $58,645 by rug-pulling tokens like $USSR, $Krueger, and $Fred. Despite presenting themselves as Bitcoin maximalists and early Bitcoin adopters, their recent actions suggest they’re exploiting the meme token market for personal gain.

Let’s break down what happened: 🧵

About Fred and Ben

Background on $SAB121

On January 24, 2025, at 00:35:51 UTC, Fred Krueger launched a meme token named $SAB121 via a wallet he had previously used to accept Solana donations. He announced the token on Twitter, claiming it was created to commemorate the repeal of SAB-121.

Note: All tweets related to $SAB121 and Fred's involvement in its launch have since been deleted.

Fred’s deployment wallet: AddrressAMaokHvLumVnwgYTPGEut9VPwRWXZy2jJQQzCkvrPafT

Shortly after launching, Fred sniped 67% of the $SAB121 supply (670,624,999 tokens). The token quickly ran reached a market cap of $22 million before the massive dump began.

How They Profited
--Initial Dumps

Fred's wallet sent 300M $SAB121 tokens to another address and dumped them an hour after for $140,000 in two transactions:

Wallet: 5FjpxLxoh8o8pr8YhpPdW5hWRQKvkM9PrtuwE7hwMi5E

Burning and Selling

Fred sent the remaining 370M tokens to another wallet and burned them 14hrs after the launch(token already dumped) LOL. However, the dumping didn’t stop there:

One wallet bought 9.7M tokens for 1.92 $SOL ($493) and dumped them for $20,000.

oVpmXUxaq16UayPx45tapQRQwN2N9yykHYhKZr1b4ov

Another wallet purchased 19.2M tokens for 5 $SOL ($1,244) and dumped them for $132,000.

BoBo9v6dtWnHMMVRzfXmjMs4ykAvfnR5RSd6CRhA9jU6

Fred and Ben likely control these wallets as they bought the same minute it was launched, making a combined profit of $292,000 from #SAB121.

Fred’s History of Rug Pulls

Fred’s actions with $SAB121 aren’t isolated incidents.

Here are recent examples of his shady behavior:

$FRED Token Rug

--A meme token named $FRED was launched by a degenerate trader, who sent Fred 50% of the supply (500M tokens).

Fred dumped his holdings within 13 minutes, making 29.6 $SOL ($7,343.02).

$USSR Token Rug

--After suggesting on Twitter that he might create a token related to "The Shitcoin Reserve," another trader launched $USSR and sent him 50% of the supply.

Fred dumped his allocation within 15 minutes, netting 22 $SOL ($5,500).

$KRUEGER Token Rug

Two days ago, Fred received 60% of the $KRUEGER supply (600M tokens) and dumped it in a single transaction for 162 $SOL ($41,244).

He also dumped another 50% of $KRUEGER sent to him by a second deployer for 18 $SOL ($4,558).

Fred made a total of $58,645 from dumping tokens gifted to him, setting the stage for his $SAB121 scheme.

Exploiting Trust and Influence

Fred and Ben capitalized on their public personas and the trust of their followers to profit from meme tokens. They repeatedly dumped tokens sent to them under the guise of community engagement.

The Problem with Gifting Supplies

Sending token supplies to influential figures is a double-edged sword. While it can boost visibility, it also opens the door to exploitation if the recipient doesn’t prioritize the community’s well-being.

Do Your Own Research (DYOR)

Don’t blindly trust individuals, regardless of their reputation or claimed history. Always conduct thorough research before investing in tokens they promote or are associated with.

Conclusion

Fred Krueger and Ben Sigman’s actions highlight the dangers of unchecked influence in the crypto space.

Their heist on $SAB121 and their history of rug pulls are a cautionary story for traders and developers alike.

Stay smart, and remember dont follow blindly....

Thanks for reading

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