Fake Token Scam

Scammers counterfeit tokens by using similar token names and symbols, and then they will exchange for real tokens that are well-known tokens. The main victims are mostly new users since users who get familiar with the blockchain can judge a token by checking the contract address of the token, such as the common USDT, ETH, BTC, etc.

The scammers will sell their fake tokens at a very attractive price to those who are long to buy. Actually, these tokens cannot be traded and have no value.

Therefore, it is necessary to check the token contract and other information according to the official token information before making a transfer and do not trust a third party easily!

Last updated