Astrology-themed NFT project Lucky Star Currency (LSC) has conducted an exit scam worth more than $1 million, according to an Oct. 9 report from blockchain security firm Certik.
The project’s deployer account called the “withdrawToken” function on the NFTMerge and AdwardCenter contracts, removing over $1 million in LSC from them. These tokens are then exchanged for the Binance USD (BUSD) stablecoin and sent to another account.
We Can Confirm Exit Scam @AstrAstrol75591 LSC token
BSC: 0x2b3559c3DBdB294cbb71f2B30a693F4C6be6132d
EOA 0x9Ef Withdrawn LSC tokens from the AwardCenter contract.The token was subsequently sold for $1.1 millionhttps://t.co/sy7vFfqhf5
— CertiK Alert (@CertiKAlert) October 9, 2023
Lucky Star Coin is an NFT-focused project that claims to be founded by an astrologer. Its contract includes a reward center and NFT market. It is marketed to the Chinese cryptocurrency investment market.team Promote The project’s username on X (formerly Twitter) is @AstrAstrol75591.it is also have Telegram channel. As of October 9, the project’s website and user interface were offline.
Before the alleged rug, the Lucky Star currency was heavily promoted on Chinese news app Jinri Toutiao and question-and-answer platform Zhihu.
Around 02:52 a.m. UTC, BNB smart chain address 0x9Ef72Ee68a7c841986A0C60e0FDbAE4e27446Deb deleted Over 1.6 million LSC came from Lucky Star Currency’s Reward Center contract. In the second transaction, an additional 1.4 million LSC were added Drain NFTMerge contract from the project.After the attacker runs out of funds exchanged Exchange over $1 million in BUSD via Pancake Swap and send it to account 0x23f8c805306Bf27AB8bf3cEbEce4B778acfFd896. The account has been receiving BUSD from various sources over the past 82 days, which means there may have been more than one scam depositing funds into the account.
According to Certik, the exhausted contract has been listed as an official contract for the project on Telegram.
Additionally, blockchain data shows that hacked accounts yes Deployer of the AwardCenter contract.
related: Chinese DeFi protocol WDZD Swap exploited worth $1.1 million: CertiK
The company promoting the scheme claims to have an office in Shenzhen, China.
The pull of Chinese projects has become a recurring problem in the Web3 field. It is illegal to operate a centralized cryptocurrency exchange in the country. As a result, users who deposit money into Chinese protocols with centralized elements may face the risk of having their funds confiscated by the police.
In July, the China-based Multichain protocol lost over $100 million when it transferred all of its user funds to attackers’ accounts. The team claims police have arrested their CEO, but victims are still looking for answers as to what happened to their funds and how to get compensated.
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