Scammers Target LUNA And UST Communities, Promising Refunds On Their Terra Investments

Scammers have discovered new victims among the LUNA and UST communities, who have been heavily struck by the current crypto market instability that has affected the two digital assets.

Scammers are now preying on the abovementioned investors, according to SlowMist’s investigation, with fraudulent promises of reimbursements on their LUNA and UST investments.

Many people are unaware that scammers are sending members of the LUNA and UST communities to websites that are meant to steal money and NFTs. SlowMist also identified one scammer address on the Ethereum network that has gathered 2.13 ETH worth around $4,400.

The SlowMist team shared their findings of scammers targeting LUNA and UST investors through the following two tweets.

And:

LUNA And UST Team Cautions that Official Announcements Will Only Be Made Through Their @terra_money Twitter Account

The proliferation of scammers targeting the LUNA and UST communities has led the team at Terra to announce that official announcements and updates will only be made via their Twitter handle. They said:

All updates will be posted on this Twitter account (@terra_money).

Any other Twitter accounts purporting to represent Terra are fake. Users are advised to be on the lookout for scams.

Therefore, LUNA and UST community members should not click on any Tweets or websites promising anything connected to the two digital assets.

Terra Has Promised a Post Mortem on Everything that Happened

At the time of writing, the most recent update by the team at Terra was made yesterday, May 14th, on Twitter, explaining that they are working on publishing a post-mortem of everything that transpired in the last week.

Additionally, they requested everyone be safe during these ‘tremendously difficult times for everyone affected.’

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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