--- title: "Nest Wallet Co-Founder Fell Victim to a Phishing Attack! | Phish Protection" description: "Phishing attacks have become quite rampant over the last few decades. And the latest victim is none other than the esteemed co-founder of Nest Wallet- Bill Lou." image: "https://phishprotection.com/og/blog/nest-wallet-co-founder-fell-victim-to-a-phishing-attack.png" canonical: "https://phishprotection.com/blog/nest-wallet-co-founder-fell-victim-to-a-phishing-attack/" --- Quick Answer Phishing attacks have become quite rampant over the last few decades. And the latest victim is none other than the \*\*esteemed co-founder\*\* of Nest Wallet- Bill Lou. He fell prey to a \[phishing scam\](/phishing-awareness/crypto-phishing-scams-how-can-users-stay-fully-protected) whereby he Share [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fphishprotection.com%2Fblog%2Fnest-wallet-co-founder-fell-victim-to-a-phishing-attack%2F "Share on LinkedIn") [ ](https://twitter.com/intent/tweet?text=Nest%20Wallet%20Co-Founder%20Fell%20Victim%20to%20a%20Phishing%20Attack!&url=https%3A%2F%2Fphishprotection.com%2Fblog%2Fnest-wallet-co-founder-fell-victim-to-a-phishing-attack%2F "Share on X/Twitter") [ ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fphishprotection.com%2Fblog%2Fnest-wallet-co-founder-fell-victim-to-a-phishing-attack%2F "Share on Facebook") [ ](https://reddit.com/submit?url=https%3A%2F%2Fphishprotection.com%2Fblog%2Fnest-wallet-co-founder-fell-victim-to-a-phishing-attack%2F&title=Nest%20Wallet%20Co-Founder%20Fell%20Victim%20to%20a%20Phishing%20Attack! "Share on Reddit") [ ](mailto:?subject=Nest%20Wallet%20Co-Founder%20Fell%20Victim%20to%20a%20Phishing%20Attack!&body=Check out this article: https%3A%2F%2Fphishprotection.com%2Fblog%2Fnest-wallet-co-founder-fell-victim-to-a-phishing-attack%2F "Share via Email") ![Phish Protection blog post image](https://media.mailhop.org/phishprotection/images/2024/01/spear-phishing-protection-6847.jpg) Phishing attacks have become quite rampant over the last few decades. And the latest victim is none other than the **esteemed co-founder** of Nest Wallet- Bill Lou. He fell prey to a [phishing scam](/phishing-awareness/crypto-phishing-scams-how-can-users-stay-fully-protected) whereby he lost a whopping $125,000 . The CEO and co-founder of this reputed [crypto wallet](/phishing-awareness/crypto-wallets-face-advanced-multi-stage-double-finger-threat) unsuspiciously clicked on one of the **top-ranking** [search results on Google](https://www.nbcnews.com/tech/tech-news/phone-numbers-airlines-listed-google-directed-scammers-rcna94766) and got diverted to a [fake website](https://www.ndtv.com/india-news/supreme-court-warns-of-fake-website-stealing-user-details-card-information-4344116). The website **looked quite similar** to a legit LFG token airdrop, which tricked Lou into clicking on it and losing 52 [stETH tokens](https://www.investopedia.com/staked-ether-5496378#:~:text=Staked%20ether%20%28stETH%29%20is%20a,Lido%2C%20a%20decentralized%20finance%20protocol.). ![Spear phishing protection](https://media.mailhop.org/phishprotection/images/2024/01/spear-phishing-protection-6847.jpg) ### How Did the LFG Token Airdrop Scam Transpire? The [LFG token airdrop event](https://www.linkedin.com/pulse/how-claim-lfg-airdrop-step-by-step-guide-hritik-rai-lhpac) was meant to initiate rewards to **Ethereum users**. _The criteria required the Ethereum users to spend over $4,269 in translation fees for the year 8 years_. The key idea was to include these users in the [Solana blockchain network](https://en.wikipedia.org/wiki/Solana%5F%28blockchain%5Fplatform%29). Phishing experts decided to make the most out of this crypto event and gain access to **users’ precious funds**. The fake high-ranking URL managed to deceive Bill Lou and compelled him to click on the [malicious link](https://cybernews.com/security/facebook-targeted-miss-him-so-much-scam/). Thereby, he got **redirected to a fake website** that was impersonating the legit site called lessfeesandgas.org . Lou **kept following the link** and believed that it was a normal article to guide him for the airdrop event and would help him sign a message. The co-founder and CEO further went ahead to state that he used [METAMASK](https://metamask.io/) instead of **Nest Wallet**. He did this because the latter was undergoing some tests and bug-fixing procedures. However, Lou believes that Nest Wallet would have spotted the scam as it has a feature called [transaction simulation](https://blog.ambire.com/what-is-transaction-simulation/#:~:text=Transaction%20simulation%2C%20often%20called%20%22dry,before%20being%20broadcasted%20on%2Dchain.). The same is **missing from METMASK**. ![Phishing Attack Statistics](https://media.mailhop.org/phishprotection/images/2024/01/Phishing-Attack-Statistics.jpg) ### Words of Advise By Lou! > “Zero-day phishing URLs have an average lifespan of just 12 hours before they’re added to blocklists. During that window, traditional signature-based filters are blind. Our real-time behavioral analysis catches these threats by pattern, not by signature - which is how we detect attacks that no database has seen yet.” - **Adam Lundrigan**, CTO, DuoCircle Lou believes that this is not the right time to promote his product. However, he mentioned the feature of his product to prevent naive [crypto users](/phishing-awareness/a-hand-guide-to-know-about-crypto-scams-their-types-and-how-to-avoid-them) from falling prey to future phishing scams. But some social media users have trolled him for promoting Nest Wallet. A user named Nick Bax has voiced his opinion that, just like METAMASK, **Nest Wallet also falls short** in providing efficient [protection from phishing](/) attacks. Lou further took to X to share about his ordeal and further requested users to check for **official X accounts for links**. Additionally, he advised using [multi-sig wallets](https://www.coindesk.com/learn/what-is-a-multisig-wallet/) for better [cybersecurity](/content/cybersecurity-in-a-nutshell). ### Lou Alone Wasn’t The Only Target Of The Scammers! The phishing attack did not just rob Lou of his funds but also [gained access to the funds](https://www.bbc.com/news/business-67149919) of other victims who happened to click on similar malicious links. Even the LFG airdrop authorities have issued an official statement that acknowledges the existence of **multiple scam accounts**. These fake accounts mimic the official LFG airdrop event to break into the [crypto funds of naive users](/phishing/almost-6-million-extracted-in-new-crypto-phishing-fraud-from-victims). The LFG authority wants users to come up and **report** these [fake accounts](https://www.reuters.com/world/china/china-shuts-100000-fake-news-social-media-accounts-ramps-up-content-cleanup-2023-05-17/) actively in order to **prevent** a future iteration of this mishap. Digitization has undoubtedly opened the door to growth and opportunities. However, incidents like these are a **stark reminder** of the quote, “ With the good comes the bad .” ## Topics [ Phishing ](/tags/phishing/) ![Brad Slavin](https://media.mailhop.org/phishprotection/images/authors/brad-slavin.jpg) [ Brad Slavin ](/authors/brad-slavin/) General Manager Founder and General Manager of DuoCircle. Product strategy and commercial lead across DuoCircle's 2,000+ customer base. [LinkedIn Profile →](https://www.linkedin.com/in/bradslavin) ## Protect your inbox from phishing attacks Real-time email security with 60-day free trial. No credit card required. [Start Free Trial](https://portal.duocircle.com/cart.php?a=add&pid=101&brand=phishprotection) [View Pricing](/pricing/) ## Related Articles [ Foundational 5m 0ktapus, Okta Breach Helps Attackers Launch Sophisticated Supply Chain Attacks Sep 5, 2022 ](/blog/0ktapus-okta-breach-helps-attackers-launch-sophisticated-supply-chain-attacks/)[ Foundational 4m 13 Spear Phishing Attacks Examples To Justify Investment For Phishing Prevention Solutions In Your Organization Aug 1, 2019 ](/blog/13-spear-phishing-attacks-examples-to-justify-investment-for-phishing-prevention-solutions-in-your-organization/)[ Foundational 4m All 14 centers of Kettering Health were affected by a massive ransomware attack, Major outage in the Ohio medical center May 23, 2025 ](/blog/14-centers-of-kettering-health-were-affected-by-massive-ransomware-attack-in-ohio-medical-center/)[ Foundational 4m 2021 Phishing Trends You Need To Be Wary Of Aug 2, 2021 ](/blog/2021-phishing-trends-to-be-wary-of/) ```json {"@context":"https://schema.org","@type":"Organization","name":"Phish Protection","url":"https://phishprotection.com","logo":{"@type":"ImageObject","url":"https://phishprotection.com/images/phishprotection-logo.png"},"description":"Advanced phishing protection and email security for businesses. 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