Matt Henderson, the head of product at Aurora Labs, was about to lose his tokens to con artists when an alert escrow employee and a screenshot intervened.
Matt Henderson, the head of products at Aurora Labs, claims that a complex over-the-counter transaction scam is active and nearly costs him a stockpile of his hard-earned crypto.
On Friday, Henderson told his Twitter followers about his encounter with Olai, a con artist.
In essence, Olai’s fraud includes deceiving a victim into thinking they have been paid for an OTC cryptocurrency transaction when they haven’t.
Matt Henderson Shares Details Of The Scam:
Henderson said Olai approached him on the Telegram chat platform to ask about buying an AURORA token with a USD Coin. This is how the cryptocurrency fraud started; he said (USDC).
The two parties decided to carry out the transaction using escrow, a typical practice in which a dependable impartial third party keeps resources on both sides of the deal and delivers them to the counterpart when repayment conditions are satisfied.
Henderson chose Frank Braun, head of security at Aurora Labs, to serve as the escrow agent in this instance; in the Twitter thread, Henderson first referred to Braun as Steve.
But when his escrow colleague sent a screenshot of him allegedly authorising the release of the full quantity of AURORA token to the buyer, Henderson became suspicious of something.
Henderson claims that the con artists imitated his Discord profile and told Braun to give the con artists the AURORA balance.
Henderson was aware that scammers were spoofing him thanks to Discord’s blocking feature, which prevented his profile from being copied.
After escaping the deception, Henderson explained its intricate details, advising anyone using OTC trading to exercise extra caution and avoid falling for the clever con.