Fun

Chinese police capture StarkNet airdrop identity forger: Report

News Feed - 2024-05-01 07:05:32

Zoltan Vardai13 hours agoChinese police capture StarkNet airdrop identity forger: ReportThe suspect has claimed over 40,000 STRK tokens that belonged to victims before converting them to over 90,000 USDT.4704 Total views22 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksChinese authorities have captured a person suspected of identity forgery related to the StarkNet (STRK) airdrop.


The suspect has assumed other people’s identities and submitted over 40 false Early Community Member Program (ECMP) airdrop forms, claiming over 40,000 STRK tokens that initially belonged to the victims.


Following the airdrop, the suspect transferred over 40,000 STRK tokens to an OKX wallet, which were converted to over $91,000 worth of Tether (USDT), according to an April 30 local media report.


The suspect, identified as Lan Mou, was captured by the police in the Guangdong Province on April 25, along with a computer and two mobile phones.


While scams and phishing attacks are widespread in the cryptocurrency space, identity theft for claiming other users’ airdrops on such a large scale seems to be a first.


A crypto airdrop is a way of distributing new cryptocurrency, generally for early users who interacted with a certain protocol.


The StarkNet Foundation — the organization supporting the Ethereum layer-2 Starknet network — launched a 700 million STRK token airdrop on Feb. 20. The airdrop aimed to reward Ethereum solo and liquid stakes, Starknet developers and users, as well as projects and developers outside the Web3 ecosystem.


The airdrop saw significant interest as the first 45 million STRK tokens were claimed in less than 90 minutes.


Related:Lazarus Group laundered over $200M in hacked crypto since 2020STRK airdrop was filled with airdrop squatters


On Feb. 20, pseudonymous Yearn.finance developer Banteg warned that the StarkNet’s eligibility list mainly included airdrop squatters, or professional airdrop hunters, who only farm protocols with an incoming airdrop in hopes of financial gains.


According to the developer, approximately 701,544 of the 1.3 million eligible wallet addresses were allegedly linked to repeat or renamed GitHub accounts controlled by airdrop squatters who usually farm the same airdrop with multiple addresses to compound the rewards.


In March 2023, it was revealed that airdrop hunters consolidated $3.3 million worth of tokens from the then Arbitrum (ARB) airdrop from 1,496 wallets into just two wallets they had controlled.Scammers, WATCH OUT! Beware of the crypto vigilante! Source: Cointelegraph


Related:EigenLayer sees over 12,000 queued withdrawals — How far will TVL fall?# Cryptocurrencies# China# Airdrop# DeFiAdd reaction

News Feed

Sunacrip and Venezuelan Intelligence Police Issue Warning on Cryptocurrency Scams
Sunacrip and Venezuelan Intelligence Police Issue Warning on Cryptocurrency Scams Sunacrip, the Venezuelan cryptocurrency watchdog, and the Intelligence Police (CICPC) issued a war
Prashant Jha10 hours agoBitfinex Securities announces tokenized bondPaolo Ardoino, Bitfinex chief technology officer and incoming Tether CEO, said the “exciting” initiative marks the beginning of a new era in capital
Financial Report Shows Bit Digital Is Transferring 14,500 Bitcoin Miners From China to the US
Financial Report Shows Bit Digital Is Transferring 14,500 Bitcoin Miners From China to the US Following the bitcoin mining crackdown in China, the Nasdaq-listed
Salvadoran President Nayib Bukele Expects Bitcoin to Experience a ‘Gigantic Price Increase’
Salvadoran President Nayib Bukele Expects Bitcoin to Experience a "Gigantic Price Increase" El Salvador’s president, Nayib Bukele, believes that it’s just a matter of
Jesse Coghlan8 hours agoHidden as colors, crypto seed phrases could hide in plain sight, says devSpeaking to Cointelegraph, Entero Positivo argued typical seed phrase storage methods are too obvious, so he devised a way
SBF Is Sleeping Better, Playing Video Games — New York Times Sam Bankman-Fried Interview Dunked on for Going Soft on FTX Co-Founder
SBF Is Sleeping Better, Playing Video Games — New York Times Sam Bankman-Fried Interview Dunked on for Going Soft on FTX Co-Founder On Nov. 14, the New York Times (NYT) published
Leveraged MicroStrategy ETFs break $400M as ‘hot sauce arms race’ heat up
Alex O’Donnell8 hours agoLeveraged MicroStrategy ETFs break $400M as ‘hot sauce arms race’ heat upThe ETFs add leverage to MicroStrategy’s already levered-up Bitcoin strategy, and investors can’t seem to get en
Sentiment For Ethereum Hits 1-year Low, Analyst Says A Massive Run Is Coming
Este artículo también está disponible en español. Sentiment for Ethereum (ETH) has reached its lowest levels in a year as the second-largest crypto by market capitalizati
IMF: Crypto Could Soon Pose Risks to Countries’ Financial Stability
IMF: Crypto Could Soon Pose Risks to Countries’ Financial Stability Economists at the International Monetary Fund (IMF) say that “crypto assets are no longer on the fringe
Yearnify Finance (YFY) Next Generation Decentralized Finance Project, Token Pre-sale is Now Live
Yearnify Finance (YFY) Next Generation Decentralized Finance Project, Token Pre-sale is Now Live PRESS RELEASE. Yearnify Finance is a community-centered DeFi-pro
Man Pleads Guilty to Stealing Bitcoin ‘Seized’ by US Government
Man Pleads Guilty to Stealing Bitcoin "Seized" by US Government An Ohio man has pleaded guilty to stealing over 712 bitcoin that was “seized” by the U.S. government i
Akt.io Shows How DeFi Is Shaping the Future and Why Financial Institutions Are Ripe for Disruption
Akt.io Shows How DeFi Is Shaping the Future and Why Financial Institutions Are Ripe for Disruption sponsored Investing has become mandatory for those who want to secure their financ