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Scam LUNA 2.0 Tokens are Already Running Wild

Terra Blockchain Officially Halted to Prevent Governance Attack

PeckShield – blockchain security and data analytics company – has identified scammers sending so-called “Wrapped LUNA 2.0” tokens to high profile Ethereum addresses. The ploy is meant to imitate the actual LUNA re-launch airdrop taking place on Friday.

  • According to an alert from PeckShield, popular recipients of these new tokens include Vitalik Buterin, Andreesen Horowitz, Three Arrows Capital, and Justin Sun.
  • The tokens were initially sent to Terra Deployer from an anonymous address on Thursday and then sent to the relevant individuals, in order to imitate Terra’s official airdrop.
  • However, as Do Kwon made clear in his Terra ecosystem revival plan, UST and LUNA holders with assets bridged off of Terra are likely not to be eligible for the airdrop. In other words, so-called “airdrops” taking place on Ethereum and other chains are fraudulent.
  • Terra’s plan involves forking the Terra blockchain and issuing an all-new LUNA token. The old LUNA – which was debased to nothing after UST de-pegged from the dollar earlier this month – will be renamed “LUNC”.
  • The new LUNA will be distributed to holders of LUNC and UST based on their positions during certain snapshots of the blockchain. Users with holdings stored at exchange addresses – like Binance or Huobi – will also be compensated.
  • Terra 2.0 will not include an algorithmic stablecoin like the last chain and will be completely community-owned. Neither Terraform Labs nor the LUNA Foundation Guard is included in the airdrop whitelist.
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