PeckShield has published a list of potential scam projects
55 dangerous tokens were identified, which are at an early stage of development
16.01.2022 - 07:40
338
2 min
0
What’s new? PeckShield, a cyber security company, tweeted that it has identified 55 potentially dangerous crypto projects. PeckShield found the suspicious features that allow the administrators to mint unlimited tokens, blacklist accounts, and block sales to users.
#Scam PeckShield has detected 50+ tokens with rug-potentials. The community may want to be aware before interacting: · Admin can mint unlimited tokens · Admin can restrict token selling· Admin can blacklist any account@bsc_daily #BSC Here is the list:https://t.co/6mBp2HX6Hm pic.twitter.com/fYJAMAPs7H— PeckShieldAlert (@PeckShieldAlert) January 13, 2022
How do such scam schemes work? PeckShield stressed that the smart contracts for the fraudulent tokens use a “honeypot” scenario. Such projects start to rise in value as investors buy them. After a while, the fraudsters block users from selling the coins and simply disappear with the money received. PeckShield stated:
“Each token owner’s authority is too large and most of these tokens have too few sellers. Moreover, when interacting with PancakeSwap, the selling may be restricted.”
Fortunately, 54 of the 55 flagged projects do not have active users.
Which project on the list poses the greatest risk? PeckShield has identified one suspicious project with an active user base. The Trump Coin (TRUMP) token has a liquidity of $29 500 on PancakeSwap. Its trading volume in the last week was $144 860. PeckShield warns users against buying TRUMP. The message describes it as a “high-risk token” because it allows the owner to mint an unlimited number of coins.
Useful material?
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024