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Wallet security startup founder scammed out of $125,000

Bill Lou, the co-founder of a cryptocurrency wallet that claims to "revolutionize wallet security", was scammed out of 52 stETH (~$125,000) when he clicked a link promising an airdrop for a project. However, he had fallen for a phishing link that was prominently placed in Google search results, mimicking a real project but draining users' wallets when they authorized the transaction.

"I just got scammed out of $125k of stEth while trying to claim the $LFG airdrop. And I'm a fking founder of a wallet startup that's trying to improve wallet security..." wrote Lou on Twitter. "This is the first time I've been scammed. I always read about others but you never think it could happen to you..." he wrote.

If the founder of a wallet security project can't avoid scams in the crypto world, what hope do the rest of us have?

Theme tags: Hack or scam
Blockchain tags: Blockchain: Ethereum