HomeICOScammers promote fake ICO of Libra project on Twitter

Scammers promote fake ICO of Libra project on Twitter



A scam project appeared on Twitter, which promotes the sale of LIBT tokens. The scammers’ Twitter account has existed since 2018, but Etherscan data showed that the ERC20 token was created on January 26. Although the scammers claim that more than 200 ETH were attracted during the closed sale, the address to which the funds were allegedly sent shows that most of the incoming transactions were empty.

The fact that the future of is still vague has not prevented scammers from trying to capitalize on the hype around the project. The Twitter account @coinlibratoken is conducting a fake initial coin offering () of the LIBT token, requesting payment in Ethereum (ETH) from investors.

The fraudulent account appeared back in March 2018 and there was no activity in it until January 25. The smart contract for the launch of the LIBT token was created on January 26. The first tweet announced the “relaunch of Libra” and indicated that it was a “simple global token of the ERC20 standard” with a total offer of $ 500 billion.

To the abundance of spelling and grammatical errors, there were also problems with mathematics. According to the account, by 0.1 ETH you will receive 300 million LIBT, by 0.5 ETH – 3 billion LIBT. Those who send 1 ETH to the specified address will be entitled to 30 billion LIBT, and by sending 2 ETH, thanks to generous bonuses, you will receive 100 billion LIBT.

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SparkToro’s analysis showed that more than 40% of the 12,000 followers of @coinlibratoken are fake. Although it is difficult to distinguish real participation from hyped, a decreasing number of comments, likes and retweets may indicate cheating.

According to Etherscan, the address conducted a total of 39 transactions, with most of them being incoming. Almost all of them were empty, with the exception of a couple who collectively pulled in less than $2.

The scammers claim that during the open sale they attracted 3 ETH, but data analysis showed that transactions for 1 and 2 ETH came from the same inactive address.

It seems that so far the scammers have not managed to attract a significant amount of money from investors and there is a high chance that they will not be able to do this.

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