Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Incidents

Crypto Wallet Co-founder Loses $125k to Scam

January 8, 2024
Reading Time: 2 mins read
in Incidents

Bill Lou, co-founder of Nest Wallet, a cryptocurrency startup, shared his anguish after falling victim to a crypto scam, resulting in a loss of $125,000. The CEO believed he was participating in a legitimate cryptocurrency airdrop, following a link from a Medium article. However, he later realized that the website, lessfeesandgas[.]io, was a phishing domain impersonating the authentic lessfeesandgas.org. Despite his efforts to enhance wallet security, Lou’s mistake highlights the vulnerability of even experienced individuals to sophisticated scams in the crypto space.

The crypto airdrop, a marketing strategy where companies distribute tokens to wallet addresses, was the bait that led Lou to the phishing site. The now-removed Medium article was designed to drive traffic to the deceptive domain. Lou, known for his role in improving wallet security, expressed shock at the turn of events, emphasizing the need for caution in the crypto industry. He shared details of the transaction, revealing the loss of 52 stEth, equivalent to $125,000 at the time.

Lou’s public admission serves as a cautionary tale, illustrating the deceptive tactics employed by scammers in the cryptocurrency landscape. The incident underscores the importance of thorough verification and skepticism, even for individuals deeply involved in the industry. As the crypto space continues to evolve, maintaining vigilance against phishing scams and fraudulent schemes becomes increasingly critical for users and industry professionals alike.

Reference:
  • I just got scammed out of $125k of stEth while trying to claim the $LFG airdrop.
Tags: Bill LouBlockchainCryptocurrenciesCyber AttacksCyber Incidents 2024cyber-incidentcybercrimesJanuary 2024Nest WalletScamsSocial MediaX
ADVERTISEMENT

Related Posts

Infostealer Hidden in Steam Game

Hackers Target Amazon’s AI Code Bot

July 25, 2025
Infostealer Hidden in Steam Game

APTs Use Fake Dalai Lama Apps to Spy

July 25, 2025
Infostealer Hidden in Steam Game

Infostealer Hidden in Steam Game

July 25, 2025
Interlock Ransomware Threat Alert

Hackers Use Ransomware on SharePoint Servers

July 24, 2025
Interlock Ransomware Threat Alert

Data Breach Affects 340K Jobseekers

July 24, 2025
Interlock Ransomware Threat Alert

Beluga Vodka Ransomware Attack Reported

July 24, 2025

Latest Alerts

CastleLoader Uses Clickfix on Windows

Sophos, SonicWall Patch Critical RCE Bugs

Koske Malware Hides in Panda Images

Interlock Ransomware Threat Alert

GitLab Patches Key Vulnerabilities

Backdoor Found in WP Plugins

Subscribe to our newsletter

    Latest Incidents

    Hackers Target Amazon’s AI Code Bot

    APTs Use Fake Dalai Lama Apps to Spy

    Infostealer Hidden in Steam Game

    Data Breach Affects 340K Jobseekers

    Hackers Use Ransomware on SharePoint Servers

    Beluga Vodka Ransomware Attack Reported

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial