Solana's head of finance lost $50 to crypto scam

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According to reports, the head of finance at Solana network was scammed for about $50 USDC.

Scam problems are increasingly heightening within the blockchain bounds, capturing even the ‘best traders.’ Incoming reports indicate that the head of finance of Solana was just scammed.

First release, as the concerned parties did not comment & this was a small scam.

This is Solana’s Head of Finance being scammed by an impersonator pretending to be Anatoly. Not good. Thankfully, only a small amount was lost here – I’ll await comments before posting bigger ones. pic.twitter.com/zBlhcFjxNX

— FatMan (@FatManTerra) April 7, 2023

Based on a screenshot of a Telegram conversation with Solana’s head of finance, Nivan Bhuta, the scammer is an impersonator who pretends to be Solana’s Anatoly Yakovenko. The scammer requests at least 100 USDC before any funds movements can occur. Later, Bhuta sent 50 USDC as a test.

Twitter user Fatman, who flagged this scam, notes, “There is no such thing as someone “too smart to get scammed.” It can happen to anyone.”

The reaction to the tweet by Fatman was interesting, with many criticizing the protocol. The Solana team created a blockchain designed for trustless smart contracts. However, this same team cannot make a trustless way of completing transactions because they have to send some test amounts.

In another response, a user was seemingly defending Solana’s head. He noted that they needed to find a secondary story to get the root cause of this problem. He insinuated that business procedures are at fault.

Scam problems in the crypto space

The problem of scamming has been increasing in the cryptocurrency landscape recently. In February, the Washington Post highlighted that in the last nine months of 2022, crypto investors lost $500 million on just one blockchain network, which scammers targeted. Based on the report, crypto scams stole over $10 billion from investors.