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Scammers try to take advantage of the launch of Terra 2.0 to steal funds on the Binance network.

• Scammers were promising LUNA tokens allegedly issued on BNB Chain.

• Currently, the smart contracts are empty and the funds were laundered with Tornado Cash.

Source

The creation of the new Terra network, called Terra 2.0, brought new hope for honest investors, but also opened up a range of actions for imposters and scammers. For example, on BNB Chain, the Binance network, fake terra tokens (LUNA) appeared and the profits of those who issued them already reach hundreds of thousands of dollars.

According to the security and analytics firm PeckShield on its Twitter account, movements were detected on the Binance network that could be linked to a fraud attempt related to terra (LUNA) , the cryptocurrency of the recently created Terra 2.0.

In the tweet, the transactions in the BNB Chain block explorer are detailed, both for the creation of smart contracts (with which the alleged LUNA are issued) and the withdrawal of funds, which were later laundered through TornadoCash. , a transaction mixer that originally worked only on Ethereum, but now supports BNB Chain as well.

Similar scam attempts circulated on social media on the Ethereum network, also linked to Terra 2.0. The similarity between the two is that they appeal to the user to enter a false platform and deposit funds on it or provide access to their wallet by signing malicious transactions in exchange for supposed tokens.

With mechanisms of this type, users could fall into the trap of depositing crypto assets at an address in exchange for supposed LUNA tokens, but never actually receiving them. The supposed sellers then take that money and "camouflage" their movements using Tornado Cash, a tool that allows you to deposit and withdraw cryptocurrencies, eliminating the link between them. That is, there is no record of the connection between the account that sends and the one that receives the funds.

At the time of writing this article, the total value of the scam was 730 BNB. This equates to $229,985 based on the BNB quote on CoinGecko.

These are the transactions involved with the fake Terra tokens on Binance, according to PeckShield.

Source

The fall of Terra, fertile space for scams.

As a result of what happened with the terra and terra USD (UST) cryptocurrency debacle, many people had very significant material losses .

In an effort to recover what was lost, some trust characters or companies of dubious reputation, which promise to help them get their savings back. CriptoNoticias reported several cases of scams related to alleged user support services or promises of airdrops that actually had nothing to do with the official one.

Another consequence of the fall of Terra cryptocurrencies is that users think about suing the lead developer of UST, Do Kwon, for all the losses that the episode caused to investors. Meanwhile, the new version of the network is already active and the distribution of the new cryptocurrency is underway , a circumstance that many opportunists want to take advantage of and in which users must be careful.

This image was taken by me in the networks and edited by me in PowerPoint

Image Source : Leofinance logo .

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Posted Using LeoFinance Beta