In a recent incident on Stargate Snapshot, a scammer managed to deceive over 1,000 users and make off with more than $43,000. The scam involved a phishing link embedded within a voting proposal on the Stargate Governance platform. The scammer acquired 50,000 STG tokens to gain access and create the proposal, then announced the launch of gSTG token distribution to lure participants. However, the announcement contained a phishing link that directed users to a fraudulent website. Shockingly, over 1,000 individuals fell victim to the scam, highlighting the effectiveness of the scammer’s tactics. The stolen funds were distributed across various blockchain networks. The incident has prompted discussions within the Stargate and LayerZero communities about reinforcing security measures. Investigators are currently tracing the scammer’s digital footprint using wallet addresses and related transactions. This incident serves as a reminder of the ongoing threats in the digital asset space and the need for heightened vigilance and enhanced security measures. The affected communities and ongoing investigations aim to address the aftermath of the attack and strengthen defenses against future exploits.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	1
People	None
Companies	Ethereum, Stargate, Arbitrum, LayerZero, DeBank, Optimism, BNB chain, Snapshot
Currencies	Ethereum, Arbitrum, Stargate Finance, Optimism, BNB
Securities	None