Luna2.0 SCAM; scammers fake Luna2.0 airdrop on day of launch 

Luna2.0 SCAM; scammers fake Luna2.0 airdrop on day of launch 

Scammers wanted to convince users that the "Wrapped Luna 2.0" address is a valid Terra 2.0 token deployer and that they should move their funds there.    

Luna2.0 is set to launch on Friday Luna2.0 is set to launch on Friday

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. 

The Scam 

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. 

The Discovery 

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 Intent 

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. 

Also Read: Here is what crypto big shots think about the Terra Luna CRASH  - BusinessToday

Also Read: Gita Gopinath is not alone in avoiding the crypto party: Here are top 5 economists who said no to crypto - BusinessToday