Prominent blockchain security researchers PeckShield and AegisWeb3 recently issued alerts about a major exit scam involving Lucky Star Currency ($LSC) on the Binance Smart Chain (BSC). The damage amounts to an estimated $1.11 million, with the $LSC token witnessing a stark 98% decline in its value.
PeckShield raised the alarm by highlighting the rug pull on BSC and the significant drop in $LSC’s value. Their data matched AegisWeb3’s monitoring, a recognized blockchain monitoring entity, which detected the suspicious exit scam on the Binance Smart Chain platform.
Detailed transaction records on BSCScan show significant fund transfers associated with the exit scam. One address, identified as 0x9Ef72E…27446Deb, offloaded tokens for a profit of roughly $1.11 million in BUSD.
SECURITY ALERT – $1.11M Exit ScamAegisWeb3 has detected the emergence of an exit scam on #BSC.The token $LSC (https://t.co/2ANV5ksVjE) has dropped 97%. pic.twitter.com/wj39B7ztLd
— AegisWeb3 (@AegisWeb3) October 9, 2023
Furthermore, the suspected actor received a total of 3 million $LSC tokens from two separate contracts. Interestingly, the contract 0xae3dA6…7dCf3f8D serves as the #nodeFeeAddress for $LSC. Tokens from the second address, 0x409F8C…07D04123, also trace back to the Deployer, deepening the mystery around this abrupt exit.
As the crypto community digests this unsettling development, both PeckShield and AegisWeb3 have urged investors and traders to exercise caution, underscoring the inherent risks associated with digital currencies.
The event is a stark reminder of the need for thorough due diligence and research, especially in a market known for its volatility and occasional lack of transparency.
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