Luna 2.0: Scammers Create A Fake Airdrop To Convict Victims

Luna 2.0: The coin will be given away as a real airdrop today. Criminals, on the other hand, are taking advantage of the impending release to stage false airdrops of the Terra ecosystem’s new coinage.

PeckShield, a specialist in blockchain analysis and security, issued an alert about the case on its Twitter profile last Thursday.

As previously stated, the scammers sent Terra Deployer units of the newly minted “Wrapped LUNA 2.0” from an anonymous Ethereum (ETH) address. These tokens were then dispersed to several wallets, including Vitalik Buterin’s, Andreesen Horowitz’s, and Justin Sun’s public addresses.

This would be done to give the prospective scam more “legitimacy”, leading other users to believe that the address is the true source of the LUNA 2.0 airdrop. Criminals expected UST and LUNA holders to transmit their valuables to the Terra blockchain in the hopes of receiving the new coin.

Despite the fact that both tokens’ prices have plummeted, scammers may be able to get a lot of money by sending in big amounts. So yet, no users have been recognized as having fallen for the fraud.

It’s worth noting that sending tokens to the public addresses of well-known market figures is not uncommon. Last year, Shiba Inu (SHIB) provided a big portion of its supply to Buterin, who burnt much of it and donated the remainder to Covid-19 funding.

How will the LUNA 2.0 Airdrop be carried out?

The proposal to restore the Terra network was eventually approved by the large majority of its users, as stated on Wednesday. It contains a plan to hard fork the project’s blockchain, resulting in the creation of a new network from scratch.

This new blockchain will be handled decentralized by its own community, rather than by Do Kwon and Terraform Labs’ judgments. The network’s native token will be LUNA 2.0, while the current LUNA will be called LUNA Classic and will remain on the collapsed blockchain.

Users who own the previous LUNA and UST will be eligible for an airdrop of the new cryptocurrency, with the amount received ranging in proportion to whether they owned the assets before or after the crash.

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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