<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-wallet-ceo-falls-victim-to-phishing-attack-loses-125000-in-tokens/" data-wpel-link="internal">Crypto Wallet CEO Falls Victim to Phishing Attack, Loses $125,000 in Tokens</a><br></p>
<p class="p1" style="text-align: justify">Another hacking attack has been added to the cryptocurrency market. Accordingly, the co-founder and CEO of Nest, a security-focused crypto wallet application, became the victim of a phishing attack while trying to claim what he thought was a legitimate airdrop event, resulting in the loss of 52 stETH tokens valued at $125,000.</p> 
<h2 class="p1" style="text-align: justify" id="security-expert-s-costly-mistake">Security Expert’s Costly Mistake</h2> 
<p class="p1" style="text-align: justify">The LFG token airdrop event, which means less fees and gas, was initiated to reward <a href="https://en.coin-turk.com/multi-billion-dollar-transactions-on-ethereum-based-dexs-raise-concerns/" data-wpel-link="internal">Ethereum</a> users who have spent more than $4,269 on transaction fees since 2016 and to include them in the <a href="https://en.coin-turk.com/heres-what-will-bring-the-crypto-bull-solana-sol-founder-reveals/" data-wpel-link="internal">Solana</a> blockchain network. A fake website imitating the official LFG token emerged to steal users’ funds and succeeded in deceiving Bill Lou. Nest Wallet co-founder X commented on the matter:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“While trying to claim the LFG airdrop, my stEth assets worth $125,000 were stolen.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Lou clicked on a link that redirected him to a scam website from an article at the top of a Google search and followed the link thinking he was reading an article guide for the airdrop and signing a message. The prominent figure said he used MetaMask instead of Nest and added that if he had used his own product, the wallet would have caught it:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Transaction simulation is a must. This feature is available in Nest Wallet but completely missing in MetaMask. This could have been completely prevented.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Lou also advised users to always look for official X accounts for links and to use multisig wallets for extra security.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-297260" src="https://coin-turk.com/wp-content/uploads/2024/01/bill-lou.png" alt="" width="550" height="532"></p> 
<h2 class="p1" style="text-align: justify" id="details-on-the-lfg-airdrop-event">Details on the LFG Airdrop Event</h2> 
<p class="p1" style="text-align: justify">Apparently, Lou is not the only person affected by such an attack; other victims also reported that their wallets were emptied after clicking on similar fake links through fake X accounts. The project behind LFG acknowledged the issue and stated:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“We are aware of several scam accounts imitating us and are reporting them. Please do the same and help protect other users.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">According to the project, a total of 387,000 eligible wallets are entitled to receive a total of 400 billion LFG tokens, and any unclaimed tokens will be burned within a month. According to CoinGecko data, the token is currently valued at $0.000069. So far, about 25,000 users on Solana have claimed the LFG token. According to another X post, 60% of the total supply of 1 trillion LFG tokens is allocated for the airdrop event, 10% for early contributors, 6% for liquidity provision, and 24% for the treasury.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/crypto-wallet-ceo-falls-victim-to-phishing-attack-loses-125000-in-tokens/" data-wpel-link="internal">Crypto Wallet CEO Falls Victim to Phishing Attack, Loses $125,000 in Tokens</a></h5>

Crypto Wallet CEO Falls Victim to Phishing Attack, Loses $125,000 in Tokens

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