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
325
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
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024