Bitcoin

<ul><li>Lucky Star Currency ($LSC) suspected in exit scam, leading to a 97% to 98% drop in token value.</li><li>Security firms AegisWeb3 and PeckShield trace $1.11 million to specific wallet addresses.</li><li>The incident adds to a growing list of crypto scams, including a recent $6.5 million loss in Coinbase&#39;s Layer 2 network due to Magnate Finance.</li></ul>The cryptocurrency ecosystem is once again confronting the harsh realities of exit scams, with the most recent case involving a token known as Lucky Star Currency ($LSC) on the Binance Smart Chain. Security firms AegisWeb3 and <a href="https://x.com/PeckShieldAlert/status/1711279146553557421?s&#61;20" rel="noopener noreferrer nofollow">PeckShield</a> have reported a sharp decline in the token&#39;s value, plummeting by <a href="https://coinbrain.com/coins/bnb-0x2b3559c3dbdb294cbb71f2b30a693f4c6be6132d" rel="noopener noreferrer nofollow">97% to 98%</a>, resulting in an estimated loss of $1.11 million.Raising an alarm regarding the event, the AegisWeb3 team wrote on X:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/5b7962a7ddfb4f0d965599b85d7dd2b3.png" />AegisWeb3 traced the funds to a <a href="https://t.co/495CH1NSVl" rel="noopener noreferrer nofollow">specific wallet address</a> that offloaded tokens for a profit of around $1.11 million in BUSD. The funds were then transferred to <a href="https://t.co/VFxntmVm04" rel="noopener noreferrer nofollow">another address</a>. Further scrutiny revealed that the exiter received 3 million $LSC tokens from two distinct contracts. One of these <a href="https://t.co/3MzgZ0xj1b" rel="noopener noreferrer nofollow">contracts</a> was identified as the node fee address for $LSC, adding another layer of complexity to the unfolding drama.This incident is not isolated but part of a larger pattern of fraudulent activities in the crypto space. Earlier this year, a project named Fintoch, which <a href="https://x.com/zachxbt/status/1661129110062788608?s&#61;20" rel="noopener noreferrer nofollow">falsely claimed </a>to be affiliated with investment banking giant Morgan Stanley, allegedly absconded with nearly $32 million of investor funds. The Monetary Authority of Singapore had also issued a warning against Fintoch, and it was later revealed that the CEO&#39;s image was that of a paid actor.Read full article at <a href="https://cryptotale.org/lucky-star-currency-plummets-suspected-in-1-11-million-exit-scam/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Lucky Star Currency Plummets, Suspected in $1.11 Million Exit Scam

CryptoTale

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