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Terra (LUNA) Users Lose $4.31 Million in a Phishing Attack

In a recent crypto scam, the Terra (LUNA) network users and its various sub-DeFi protocols, including Nexus, Anchor, and Astroport, have been targeted by a phishing attack using Google Ads.

The team of Slowmist intelligence zone identified and reported this scam on Twitter and revealed that the users of Terra lost their assets worth $4.31 million. This phishing attack was made between the 12th and 21st of this month. There was a malicious transfer of funds from about 52 addresses to terra1fz57nt6t3nnxel6q77wsmxxdesn7rgy0h27x30.

Since these malicious Terra ads resemble legitimate Google Ads, it can be challenging for people to point them out. The Slowmist team concluded that these ads are the pop-up ads present at the top of search results. Users who search Terra on Google usually click the first search result, thus often end up getting scammed.

Some of these malicious websites were easy to identify as they didn’t even care to change their domain names. The Slowmist team mentions that Google ads have links that are easy to identify. But, once users click that link, it redirects them to the Terra wallet. It could prompt the users to connect their wallets and add their seed phrases.

A seed phrase gives access to the crypto associated with the particular wallet. It is generally a series of words generated by the crypto wallet. Thus, one should never share it.

Furthermore, the Slowmist team warns Terra users to be extra cautious about these scams and not click on anonymous or questionable links.

Terra Wallet Leap raises $3.2 million in private token sales

Leap, a start-up firm for building a non-custodial cryptocurrency wallet by Terra blockchain fund, has raised $3.2 million in funding from CoinFund and Pantera Capital with donations from Arrington Capital, Accel, and Terraform Labs, according to a media statement.

Leap has increased funding for the private sale of its LEAP management token and services and, in a March paper, has marked set 8% of tokens for private sale. The funding cycle costs the project $40 million if these estimates are true.

Sanjeev Rao, the founder of Leap wallet, has declined to comment on the exact figures.