When a person named 'Olai' messaged Aurora Labs executive Matt Henderson about buying some tokens, he initially thought nothing was amiss. What followed was a cunning and insidious scam attempt.
Aurora Labs' head of product, Matt Henderson says there is a sophisticated over-the-counter transaction scam running about that almost duped him into losing a stash of his hard-earned cryptocurrency.
Olai's scam essentially involves tricking a victim into believing payment had been received for an OTC crypto transaction, when in fact it wasn’t. The pair agreed to conduct the transaction via escrow, a common strategy by which a trusted, neutral third party holds assets on both sides of the transaction and releases them to the counterparty when payment conditions are met.’ head of security Frank Braun to act as the escrow agent, who he initially referred to as"Steve" in the Twitter thread.3.
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