Scam Alert: Mysten Labs Warns of Token Spam on Sui Wallets

Mysten Labs has issued a public warning regarding an ongoing scam targeting Sui Wallets. The Web3.0-focused startup has identified unauthorized transactions occurring within certain Sui wallets, accompanied by the presence of spam coins. Users are advised to exercise caution when encountering unfamiliar objects or activities within their wallets. Meanwhile, Mysten Labs is actively working to address any potential security breaches and enhance the overall security of the wallets.

A screenshot of a message claiming that the recipient had won 1000 SUI tokens and needed to claim them was shared by a crypto Twitter user. Another Twitter user, identified as Kingsamiami, raised suspicions that a member of the Sui development team might have been involved in the breach, as such an incident was not intended to occur.

Sui Network Launched its Mainnet Now Live

Mysten Labs recently launched the mainnet of their highly scalable layer 1 blockchain, Sui Network. Shortly after its launch, the blockchain introduced its native token, which serves various purposes such as staking, gas fee payments, and governance. The token quickly gained traction and was listed on major cryptocurrency exchanges including Binance, OKX, Bybit, Kucoin, and Upbit, the latest addition. The total supply of the Sui token was recorded at 10 billion.

Furthermore, the Sui development team made a commitment to launch more than 200 decentralized applications (dApps) on their protocol, covering a wide range of sectors such as Non-fungible tokens (NFTs), Decentralized Finance (DeFi), and gaming. Although rumors of a potential Sui token airdrop circulated in April, Adeniyi Abiodun, the co-founder and chief product officer of Mysten Labs, clarified that these speculations were false.

According to his statement, there is no ongoing Sui token airdrop, and the protocol has no intentions of conducting one in the future. The only recognized distribution by the protocol was the allocated 20% for early donors, which should not be misconstrued as a public airdrop. However, despite this clarification, members of the Sui community maintain a hopeful outlook that an airdrop might occur in the near future.

Regrettably, it appears that fraudulent coin developers have seized upon this optimism and commenced circulating scam tokens within the Sui network's wallets.

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