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CEO and co-founder of security-focused crypto wallet Nest, Bill Lu, lost 52 stETH (~$125,000) to airdrop scammers.
The developer became interested in the distribution of the LFG token, which became known on January 1. The project rewards Ethereum users who have spent more than $4,269 in transaction fees since 2016, motivating them to switch to the Solana blockchain.
Lou clicked on a link at the top of Google's search results that led to a scam site.
“I saw the giveaway guide article and clicked on the link to sign the message [in the wallet],” explained the head of the startup.
He noted that he used MetaMask instead of Nest, which was running in test mode, in which some bugs were to be fixed.
“Transaction modeling is absolutely necessary,” he emphasized in a conversation with The Block. — Nest Wallet has this built-in, but MetaMask is completely absent. This could have been completely avoided."
Lu is far from the only experienced participant in the cryptocurrency market to suffer from a scam airdrop. Many other users' wallets were similarly emptied.
Recognizing the problem, representatives of the real project called for reporting such fraudulent accounts and sites.
During the airdrop, the LessFnGas team plans to distribute 400 billion tokens among 387,000 eligible wallets. At the time of writing, LFG is trading at $0.00006991.
The developer became interested in the distribution of the LFG token, which became known on January 1. The project rewards Ethereum users who have spent more than $4,269 in transaction fees since 2016, motivating them to switch to the Solana blockchain.
Lou clicked on a link at the top of Google's search results that led to a scam site.
“I saw the giveaway guide article and clicked on the link to sign the message [in the wallet],” explained the head of the startup.
He noted that he used MetaMask instead of Nest, which was running in test mode, in which some bugs were to be fixed.
“Transaction modeling is absolutely necessary,” he emphasized in a conversation with The Block. — Nest Wallet has this built-in, but MetaMask is completely absent. This could have been completely avoided."
Lu is far from the only experienced participant in the cryptocurrency market to suffer from a scam airdrop. Many other users' wallets were similarly emptied.
Recognizing the problem, representatives of the real project called for reporting such fraudulent accounts and sites.
During the airdrop, the LessFnGas team plans to distribute 400 billion tokens among 387,000 eligible wallets. At the time of writing, LFG is trading at $0.00006991.
