Recently, the Bitcoin and altcoin world continues to be shaken by fraud cases. This time, an event taking place in China is quite remarkable. It was revealed that a suspect earned 40,000 STRK (approximately 91,000 USD) by exploiting the Starknet (STRK) airdrop system with fake identities. This incident encourages investors to be more careful in cryptocurrency transactions and take the necessary security measures.
Airdrop operation took place for that altcoin
Chinese police have captured a suspect who made 40,000 STRK (approximately 91,000 USD) by exploiting the Starknet (STRK) airdrop system with fake identities. This incident highlights the increasing cases of fraud in the cryptocurrency world and encourages investors to be vigilant. The suspect, Lan Mou, is accused of illegally requesting STRK airdrops by submitting an Early Community Member Program (ECMP) AirDrop form by assuming the identities of other participants. Mou is believed to have submitted more than 40 fake ECMP forms, demanding an estimated 40,000 STRK coins belonging to the victims of this fraud scheme.
The suspect searched for relevant work posted by others in the STRK community, assumed the identities of those individuals, and used that information to submit ECMP forms. This sophisticated method of identity theft has raised concerns about security measures put in place to protect participants in cryptocurrency airdrops.
STRK coins were withdrawn
Chinese police took swift action after receiving reports of fraudulent activities. Their quick action enabled Mou to be caught and the stolen STRK coins to be recovered. The case is currently under further investigation as authorities work to ensure the stolen coins are returned to their rightful owners. This incident serves as a stark reminder of the potential risks associated with cryptocurrency transactions. It underlines the need for robust security measures and careful monitoring to prevent such fraudulent activities.
StarkNet is a permissionless, decentralized Validity-Rollup (also known as “ZK-Rollup”). It operates as an L2 network on Ethereum, allowing any dApp to achieve unlimited scale for its computation, without compromising Ethereum’s composability and security, thanks to StarkNet’s reliance on STARK, the safest and most scalable cryptographic proof system. StarkNet Contracts and the StarkNet Operating System were written in Cairo. It supports deployment and scaling of any use case, regardless of business logic. STRK is changing hands at $1.24, an increase of 6.4 percent at the time of writing.
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