Nest Wallet Ceo Lost $125,000 Due to Fake Airdrop

Nest Wallet Ceo Lost $125,000 Due to Fake Airdrop

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by Max Nevskyi

3 years ago

Bill Lu, CEO and co-founder of the cryptocurrency wallet Nest, specializing in security, lost 52 stETH (approximately $125,000) as a victim of airdrop scammers.

The developer showed interest in an airdrop token offering called LFG, which became known on January 1st. This project offers rewards to Ethereum users who have spent more than $4,269 on transaction fees since 2016, with the aim of motivating them to switch to the Solana blockchain.

Lu followed a link at the top of the Google search results, but it turned out to be a fraudulent website.

I saw the distribution guide article and followed the link to sign a message [in the wallet],explained the startup's CEO.

He noted that instead of using the working Nest Wallet, which needed some fixes in the testing phase, he accidentally used MetaMask.

Simulating transactions is essential. It's built into the Nest Wallet, but completely absent in MetaMask. This could have been completely avoided.he emphasized in a conversation with The Block.

Lu is not the only experienced participant in the cryptocurrency market who has fallen victim to an airdrop scam. Wallets of many other users were similarly robbed.

Recognizing the existence of this problem, representatives of the actual project urged users to report such fraudulent accounts and websites.

As part of the airdrop, the LessFnGas team intends to distribute 400 billion tokens among 387,000 wallets that meet the specified requirements. At the time of writing this text, the LFG token is trading at a price of $0.00006991.

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