On the day of the Luna2.0 launch, Terra Luna is in the news again but for the wrong reasons. Scammers tried to benefit from the launch of the Luna2.0 after the infamous Terra crash.
Millions of fake Luna 2.0 tokens were issued and transferred to the official addresses of Vitalik Buterin, Three Arrows Capital, Justin Sun, and other significant crypto influencers through the Wrapped LUNA 2.0 contract address.
After noticing irregular activity, PeckShieldAlert, an organization that provides alerts about crypto scams, reported it in a tweet. The tweet by PeckShieldAlert said scammers were airdropping Wrapped LUNA 2.0 (or the fake Luna2.0) to the addresses of crypto influencers to trick people into believing that the address of the scammers was the legitimate Luna2.0 address.
The scammers wanted people to believe that the originating address of the fake Luna2.0 was the legitimate address of Luna2.0. If people bought this lie, they would have sent their funds to the fake address believing it is the real address.
What is Luna2.0?
Do Kwon, the chief executive officer of TerraForm Labs, proposed replacing the current Terra network with a new blockchain, LUNA 2.0, which is planned to launch on May 27, 2022, after the Terra Luna and the entire Terra ecosystem collapsed, wiping out billions of dollars in investor funds.
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