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Scam Alert: Beware Of This Fake Terra Luna Classic (LUNC) Scammer Trying To Steal From People

thecryptobasic.com 18 May 2022 10:38, UTC
Reading time: ~2 m

Scam Alert: Beware Of This Fake Terra Luna Classic (LUNC) Scammer Trying To Steal From People

The crypto space is known to be a huge playing field for scammers who capitalize on the fact that stolen cryptocurrencies are hard to trace. That’s what the scammers behind the current attempt to defraud LUNA investors are counting on.

The latest expose by PeckShieldAlert reveals that there’s a scam going on. Apparently, someone is claiming to hold competitions for Terra Luna and UST holders. The fake Terra Luna Classic Twitter account is trying to lure unsuspecting victims by claiming to sell the new Luna 2.0 or LUNC on PancakeSwap, promising free BUSD for buyers. The scammer appears to be using BSC (Binance Smart Chain) for their scam operations.

#PeckShieldAlert #honeypot PeckShield has detected Terra Luna Classic $LUNC https://t.co/cvaFjEBPrn is honeypot. Do *NOT* fall prey to it! Terra 2.0 (or not) is still in Preliminary Vote. #LUNAtics @LFG_org @terra_money @pinkecosystem pic.twitter.com/RF5DoD9LVe

— PeckShieldAlert (@PeckShieldAlert) May 18, 2022

It’s A Honeypot

PeckShieldAlert has taken steps to warn people of this potential scam that could lead to the loss of funds for victims. Apparently, this scam is trying to operate a honeypot whereby users who pay to buy the so-called new LUNC end up with nothing. It’s a pure con that people should avoid.

There’s No Terra Luna Classic Yet

A few days ago, Terra Luna’s Do Kwon proposed the forking of the Terra chain to create new crypto to be named Terra Luna Classic (LUNC). However, this proposal was quashed by voters, with over 90% of the participants voting in favor of burning the extra Luna instead of executing a fork. It appears that the scammer is exploiting rumors of a Luna fork to lure victims into sending them money.

While exposing the scam on Twitter, PeckShieldAlert tagged the Luna Foundation Guard (LFG) and Terra Money (UST’s Twitter handle). The community would expect the two Terra teams to find a way to stop the scam. Also, this scamming attempt, while undesirable, may pave the way for Terra to finally clear the air on whether or not LUNA will be forked.

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