Lucky Star Currency (LSC), an astrology-themed NFT project, has reportedly orchestrated an exit scam worth over $1 million, as detailed in an October 9 report by blockchain security firm Certik. The alleged exit scam involved the project's deployer account executing the "withdrawToken" function on the NFTMerge and AwardCenter contracts, which resulted in the removal of more than $1 million worth of LSC tokens. Subsequently, these tokens were converted into the Binance USD (BUSD) stablecoin and transferred to another account.
Lucky Pentacles, the NFT-focused project, claims to have been founded by astrologers and offers features such as a rewards center and NFT marketplace. Primarily marketed to the Chinese cryptocurrency investment market, the project had a presence on Chinese news app Jinri Toutiao and the question-and-answer platform Zhihu before the alleged rug pull. As of October 9, the project's website and user interface were offline.
The exit scam incident transpired with the withdrawal of over 1.6 million LSC tokens from Lucky Star Currency's AwardCenter contract, followed by an additional 1.4 million LSC tokens from the NFTMerge contract. The attacker subsequently exchanged these tokens for more than $1 million in BUSD through Pancake Swap and sent the funds to account 0x23f8c805306Bf27AB8bf3cEbEce4B778acfFd896. This account had been receiving BUSD from various sources over the past 82 days, suggesting multiple instances of the scam depositing funds into the account. Certik noted that the contract depleted in the exit scam had been listed as an official contract for the project on Telegram.
