LUNA and UST Communities Become Targets of Scams Promising Refunds On Their Terra Investments



  • LUNA and UST investors are being targetted by scammers claiming to issue refunds on their investments
  • One scammer has already amassed 2.13 Ethereum (ETH) from unsuspecting LUNA and UST community members
  • The team at Terra has announced that official announcements and updates will only be made through their Twitter handle, @terra_money

Scammers have found new targets in LUNA and UST community members who have been hit hard by the recent crypto market turmoil affecting the two digital assets. According to an analysis by the team at SlowMist, scammers are now preying on the said investors with false promises of issuing refunds on their LUNA and UST investments.

Unbeknownst to many, the scammers are directing LUNA and UST community members to websites designed to steal funds and NFTs. The team at SlowMist also highlighted one scammer address on the Ethereum network that has since amassed 2.13 ETH worth roughly $4,400.

The SlowMist team shared their findings of scammers targeting LUNA and UST investors through the following two tweets.

Terra Team Cautions that Official Announcements Will Only Be Made Through Their @terra_money Twitter Account

The proliferation of scammers targeting the LUNA and UST communities has led the team at Terra to announce that official announcements and updates will only be made via their Twitter handle. They said:

All updates will be posted on this Twitter account (@terra_money).

Any other Twitter accounts purporting to represent Terra are fake. Users are advised to be on the lookout for scams.

Therefore, LUNA and UST community members should not click on any Tweets or websites promising anything connected to the two digital assets.

Terra Has Promised a Post Mortem on Everything that Happened

At the time of writing, the most recent update by the team at Terra was made yesterday, May 14th, on Twitter, explaining that they are working on publishing a post-mortem of everything that transpired in the last week.

Additionally, they requested everyone be safe during these ‘tremendously difficult times for everyone affected.’

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