Million Dollar Exit Scam by Lucky Star Currency Results in NFT Project Fraud
An NFT project themed around astrology, Lucky Star Currency (LSC), has been involved in an exit scam that defrauded investors of over $1 million, according to a report by blockchain security firm Certik on October 9th.
Scammers Exploit NFT Contracts to Steal Funds
Certik’s report reveals that the project deployer’s account executed the ‘withdrawToken’ function in the NFTMerge and AdwardCenter contracts, siphoning over $1 million worth of LSC tokens. These tokens were subsequently exchanged for the stablecoin Binance USD (BUSD) and transferred to another account.
Certik’s Skynet Alert Exposes the Scam
Certik’s Skynet Alert detected the exit scam and confirmed the fraudulent activities surrounding the LSC token on Twitter. The tweet mentioned that the tokens were withdrawn from the AwardCenter contract by the EOA 0x9Ef and then sold for $1.1 million.
To read the full article, visit Cointelegraph.
