Astrology Meets Cryptocurrency: A Cautionary Tale
In a shocking twist that feels straight out of a soap opera, the astrology-themed NFT project known as Lucky Star Currency (LSC) has performed an exit scam, making off with over $1 million. If you thought cosmic signs were destined for greatness, think again—this one went straight to the black hole of crypto scams.
The Great Token Heist
According to a report from the eagle-eyed blockchain security firm CertiK, the project’s deployer account exploited the “withdrawToken” function on two contracts, named NFTMerge and AwardCenter, to siphon off the substantial funds. In mere moments, over $1 million worth of LSC tokens were converted into Binance USD (BUSD) stablecoins, only to be transferred to another account like a magician making money vanish.
Caught Red-Handed
CertiK didn’t just call out the project for shenanigans; they also rolled out the digital red carpet, revealing the BNB Smart Chain address responsible for this audacious theft: 0x9Ef72Ee68a7c841986A0C60e0FDbAE4e27446Deb. In a two-step tango of thievery, the attacker drained 1.6 million LSC from one contract and an additional 1.4 million from another, before transforming those tokens into over $1 million in BUSD. Now that’s what we call a solid night’s work!
How It All Fell Apart
Before disappearing quicker than an astrologer’s prediction gone wrong, Lucky Star Currency was marketed heavily, especially on platforms well-known in the Chinese crypto circle, such as Toutiao and Zhihu. However, it seems that when the stars aligned for the scammers, they didn’t take heed of the fate of many before them—leaving users bewildered and out of pocket.
Location, Location, Location
The dodgy dealings were allegedly orchestrated from an office located in Shenzhen, China, a place that is rapidly gaining a reputation for its share of rug pulls in the Web3 space. The risk of depositing into such protocols is akin to playing poker with a loaded deck: the house almost always wins, and in this case, it’s the users who are left holding the empty bag. The authorities in China have been known to intercept centralized operations, raising further alarms for investors.
Lessons Learned (or Not)
Crypto enthusiasts need to keep their guard up. In recent history, we’ve seen a massive wave of scams, including the infamous Multichain protocol that drained over $100 million, leaving countless victims in limbo. So, if you find yourself starry-eyed over investment opportunities in the cosmos, maybe double-check those constellations first! After all, in a landscape where the stakes are high, taking a pause to consult your astrological guides might just save you from getting burned.
