A phishing scam recently targeted the Stargate Snapshot platform, leading to substantial financial losses. The scam involved a deceptive proposal vote on LayerZero’s Discord platform, manipulating users into staking STG tokens.
The perpetrator created a fake proposal, tricking over 1,000 users into participating in the vote. Subsequently, the scammer profited over $43,000. Security entity PeckShieldAlert confirmed this figure after closely monitoring the scammer’s digital activities and wallet transactions.
PeckShieldAlert is actively investigating the scammer’s digital footprint, aiming to identify wallet addresses and related transactions for further leads. Stargate’s usual protocol involves STG token holders submitting proposals, which undergo a voting process by veSTG voting power holders on Snapshot.
This incident is part of a rising trend of attacks on Discord, with hackers exploiting its open nature to scam users in the cryptocurrency and NFT space. Discord has become a prime target for phishing and giveaway scams due to its widespread use in community engagement for crypto projects.
Following this Stargate Snapshot platform incident, an official statement from Stargate is awaited. The crypto community is advised to exercise caution and refrain from clicking on links in Discord or Snapshot as the situation develops.
By FCCT Editorial Team
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