Scammer steals $743k in fake Linea token rug pull

A new rug pull scam sees users lose several thousands of dollars to a fake Linea token project.

Blockchain security analyst Certik identified a latest rug pull scam, as a fake Linea token project that scammed users out of nearly $743,000. Victims have stated that the scam was potentially conducted by a Russian user named ‘AltLex,’ who was promoting the token on social media.

#CertiKSkynetAlert 🚨

We have seen an exit scam on a fake Linea token

Eth: 0x00000000fEB6A772307C6aA88AB9D57b209aCb18

~$743k has been deposited into Tornado Cash

Victims report that the token was promoted by an individual with the username AltLexhttps://t.co/Rt3u1jV4ft

— CertiK Alert (@CertiKAlert) October 25, 2023

The scammer allegedly used a honeypotting technique, luring users away from the legitimate Linea token, which is an Ethereum scaling network. The scammer later deposited the entire amount to crypto mixer Tornado Cash, which has been recently accused of allowing criminals and North Korean hackers to launder millions of dollars worth of stolen crypto.

This is a developing story; more details will be added as they are revealed.

Read more: Breaking: FTX founder Sam Bankman-Fried to testify in criminal trial

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