Armor Scam: $850.00K Reported Loss
DeFi Insurance Agreement The Armor team claimed that some team members were scammed by OTC and were defrauded of 1.2 million ARMOR tokens.
- Reported loss
- $ 850,000
- Attack category
- Scam
Incident Overview
The scammers have already dumped all tokens for a profit of 600 ETH (approximately US$850,000). The Armor team disclosed that the scammers pretended to be strategic investors on social media, falsely claiming to purchase tokens from the team through OTC, defrauded 1.2 million ARMOR tokens in OTC transactions, and then sold them. According to the Armor team, "No hacking, the project is still safe."
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.