The cryptocurrency industry is facing an upsurge in fraudulent activities amidst Bitcoin's soaring popularity. This Monday, a 'rug pull' scam was reported on BNB Chain involving the Lucky Star Currency (LSC), according to PeckshieldAlert.
In this malicious act, an alarming $1.1 million was abruptly withdrawn from the project, leading to a near-total loss in LSC's market value. The cryptocurrency witnessed a drastic plunge of 98%, with its price falling from $2.88 to a meager $0.042.
The exit scam was also detected by AegisWeb3, corroborating PeckshieldAlert's findings about LSC's precipitous price fall.
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