Scam Tokens Ride The Wave Of Meme Coin Mania

Scammers seem to have taken the opportunity of Meme Coin mania to create and liquidate their fake tokens and drain millions of dollars of investors. According to the PeckShieldAlert research, there has been a huge spike in Meme Coin rug pulls in the last 10 days.

advertisement

These meme coins rug pulled their investors

PeckShield listed 24 fake meme tokens, including BENS, PSYOP, FOG, TINDER, and WorldCoin that had their liquidity removed in the last 10 days. These all tokens emerged from the ongoing Meme Coin mania as these terms trended on social media for some reason or another. SEI token, which was created earlier today, has already had its liquidity removed.

PeckShield reported that SEI token scammers initially funded 5.19 $ETH from OKX exchange, pumping the token’s price to lure investors and then draining the pool.

Bitcoin pizza day launched a slew of fake coins

Fake token’s issuers profited over $200,000 from pizza-related rug pulls on the 13th anniversary of Bitcoin Pizza Day. The pizza day is celebrated as it is considered the first ever commercial bitcoin transaction. Around 14 pizza-related Meme Coins were issued a day before the Bitcoin Pizza Day and most of them turned out to be scams, as per dextool. PeckShield further warned not to fall for the latest created token BEREAL.  

Recommended Articles
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
ethereum price crypto news
Top 10 Cloud Mining Sites To Mine In 2023 , Here’s The List !
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

Comments

Post a Comment

Popular posts from this blog

Belarus wants to ban P2P cryptocurrency transactions

Belarus’ Ministry of Foreign Affairs cited a high crypto crime rate for banning all citizens from exchanging Bitcoin between each other. The Belarusian foreign ministry is working on legal amendments to prohibit peer-to-peer, or P2P, transactions in cryptocurrencies like Bitcoin (BTC). The Ministry of Foreign Affairs (MFA) of the Republic of Belarus on July 2 issued an official announcement on Telegram about new legislation that would ban P2P crypto exchange for individuals. The authority cited a high cybercrime rate in Belarus, stating that local prosecutors have suppressed the activity of 27 citizens providing “illegal crypto exchange services” since the beginning of the year. Their total illegal revenues amounted to nearly 22 million Belarusian rubles ($8.7 million). The foreign ministry argued that crypto P2P services are “in demand among fraudsters who cash out and convert stolen funds and transfer money to organizers or participants in criminal schemes.” In order to eliminate
Read more

CleanSpark boosts computing power by 37% with thousands of new Bitmain rigs

Image
The Bitcoin miner announced the purchase of 20,000 new Antminer S19j Pro+ at a 25% discount, approximately $13.25 per terrahash. Bitcoin miner CleanSpark is growing its mining capacity in the United States, with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company's computing power by 37%, and brings the total number of miners purchased during the bear market to 46,500 units. According to a statement on Feb. 16, CleanSpark will pay $32.3 million for the machines after applying coupons, at a 25% discount or a total price per terrahash of approximately $13.25. The Pro+ rigs are 22% more productive than its previous models and are planned to be delivered in batches between March and May. The company is leveraging the market's lower rig prices to boost its mining capacity, while the Bitcoin (BTC) price rebounds. According to data from Hashrate Index, the current price per TH of same efficiency Bitcoin mining ASICs
Read more

Nomura’s Laser Digital Ventures in Infinity DeFi Lending Protocol

The digital asset division of Nomura Holdings, Inc., known as Laser Digital, has invested in Infinity, a decentralized finance protocol for institutional lending and borrowing. According to a joint statement released by the corporations, the Infinity protocol provides businesses with a foundation to base benchmark interest rates, lending, borrowing, and risk management in decentralized financial systems. However, on the other hand, the firms made no indication of the total investment amount. Olivier Dang, Head of Ventures at Laser, said in a statement; Infinity’s groundwork paves the way for institutional flows on-chain, new levels of rates, and risk innovation. This investment sheds light on a developing trend that combines crypto-native DeFi infrastructure and TradFi solutions. According to experts, this allows the tokenization of assets such as credit and the creation of blockchain-based markets for institutional investors. Financial institutions continue t
Read more