Black_background_logo_BitcoinWorld-removebg-preview
Nest Wallet Co-founder, Bill Lou, Lost $125,000 Worth Of Coins To Fake Airdrop Scam
Latest News News

Nest Wallet Co-founder, Bill Lou, Lost $125,000 Worth Of Coins To Fake Airdrop Scam

  • Bill Lou, founder of Nest crypto wallet says he lost $125,000 worth of coins after falling for fake airdrop scam.

The co-founder of a crypto wallet Nest Wallet, says he has been “devastated” by accidentally clicking on a fake airdrop scam.

Nest Wallet co-founder, Bill Lou, said he recently lost over $123,000 in staked Ethereum (stETH) while trying to participate in an airdrop.

On the social media platform X, Lou shares his story, noting that fell victim to the scheme despite being an expert in wallets and crypto security.

See Also: The Most Common Crypto Scams To Look Out For In 2024

“I’m devastated guys…

I just got scammed out of $125k of stEth while trying to claim the LFG airdrop. And I’m a founder of a wallet startup that’s trying to improve wallet security…

I can’t believe this is happening, I’ve always been so careful. I saw an article guide to the airdrop and follow the link to sign a message. I didn’t even question it….”

Most wallets require that users sign for a transaction before connecting to a particular decentralized application (DApp), which is the last line of defense before bad actors can move assets out of the wallet.

Etherscan data shows that the bad actor sent the stolen stETH to Uniswap (UNI) just minutes later, presumably to trade for other coins.

Lou said,

“This is the first time I’ve been scammed. I always read about others but you never think it could happen to you…

It looked like such a simple message.

It’s always someone else’s problem.”

Bitcoinworld earlier reported that BitMEX Founder Arthur Hayes lost a large amount of money in his recent crypto transactions.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.