Astrology-themed NFT project Lucky Starcurrency (LSC) conducted an exit scam of more than $1 million, according to an Oct. 9 report from blockchain security firm Certik.
The project’s publisher account called the “withdrawToken” function in both the NTFMerge and AdwardCenter contracts, removing over $1 million in LSC from it. These tokens were then exchanged for the Binance USD (BUSD) stablecoin and sent to another account.
We can confirm the checkout scam @Asterastrol75591 LSC code
EOA 0x9Ef has withdrawn LSC tokens from the AwardCenter contract. The tokens were then sold for $1.1 millionhttps://t.co/sy7vFfqhf5
– CertiK Alert (@CertiKAlert) October 9, 2023
Lucky Starcurrency is a project that focuses on NFTs and claims to have been founded by astrologers. Its contracts include a rewards center and an NFT marketplace. It is marketed towards the Chinese cryptocurrency investment market. the team Promotes The project is on X (formerly Twitter) under the username @AstrAstrol75591. It is too he have Telegram channel. As of October 9, the project’s website and user interface are offline.
Before the alleged carpet, the Lucky Star coin was heavily promoted on Chinese news app Toutiao and Q&A platform Zhihu.
At approximately 02:52 AM UTC, BNB smart chain address 0x9Ef72Ee68a7c841986A0C60e0FDbAE4e27446Deb Removal Over 1.6 million LSC from the AwardCenter contract for the Lucky Star coin. In the second transaction, 1.4 million LSC was added Exhausted From the project’s NFTMerge contract. After draining the funds, the attacker exchange Send them over $1 million in BUSD via Pancake Swap and then send them to account 0x23f8c805306Bf27AB8bf3cEbEce4B778acfFd896. This account has been receiving BUSD from various sources for the past 82 days, which means there may be more than one scam depositing funds into it.
According to Certik, the contracts that were dried up on Telegram were listed as the official contracts of the project.
In addition, blockchain data shows that the attacking account He is Publisher of the AwardCenter Contract.
Related: Chinese DeFi protocol WDZD Swap exploited for $1.1M: CertiK
The company promoting the project claimed to have an office in Shenzhen, China.
Rug pulling from Chinese projects has become a recurring problem in the Web3 space. Operating a centralized cryptocurrency exchange is illegal in the country. For this reason, users who deposit into a Chinese protocol that has centralized elements may risk having their funds confiscated by the police.
More than $100 million was lost in July when China-based Multichain protocol drained all of its users’ funds into an attacker’s account. The team claims that the police have arrested their CEO, but the victims are still searching for answers about what happened to their money and how they can be compensated.