The Co-Founder Was Cheated In The Crypto World, What Is This Case?


 "Hey guys, be careful, don't click on random websites."

Bill Lou, the Chief Executive Officer (CEO) and co-founder of Nest Wallet who was a victim of a cryptocurrency phishing attack and lost 52 stETH worth $125,000 has requested the help of digital asset controller ZackXBT and others.

The loss of funds was triggered when a fake website masquerading as an official LFG (less fees and gas) token platform appeared to airdrop users who spent more than $4,269 in transaction fees since 2016.

While trying to claim the LFG airdrop, Lou who admitted to using MetaMask instead of Nest Wallet clicked on a link from an article appearing at the top of a Google search that directed him to a scam website.

Later, Luo advises users to always verify links from official sources including considering using a multisig wallet as part of enhanced security.

In response to the incident, the LFG project, which acknowledged the problem, posted a warning about fraudulent accounts impersonating them and urged users to report such accounts to help protect the community.

The LFG project plan is to drop 400 billion LFG to 387,000 eligible wallets, but unclaimed tokens are set to burn after two months where currently the price is trading at $0.000069.

It is well known that phishing scams continue to be an important issue in the crypto space as more than 324,000 users of digital assets in 2023 fell victim to phishing scams resulting in $295 million in lost crypto.