- There is a rise within the variety of rug pulls associated to meme tokens.
- PeckShield has detected about 24 phishing meme tokens within the final ten days.
- The SEI token eliminated its liquidity lower than three hours after its creation.
There was a rise within the variety of meme tokens associated mats within the cryptocurrency business. In keeping with Blockchain safety firm PeckShield, it has detected round 24 rip-off meme tokens within the final ten days.
Scammer meme cash detected by PeckShield embody SHITMEME, BENS, WorldCoin, MONKEYS, ERDR, Magneto, STARK, ZAT, LADYBOY, USACOIN, WLD, POGO, Miniclip, PORN, FROGS, RNDT, PSYOP, POPCTEAP,,, TAGGED, SEI, and BEREAL.
PeckShield famous that SEIs created simply three hours earlier than the warning had already been liquidated. He observed that the scammers initially funded 5.19 ETH from OKX and inflated the token value to deceive and appeal to followers. However they rapidly drained the pool quickly after, leaving traders stranded.
Rugpull in cryptocurrency is when a projector developer or workforce deliberately advertises a mission to deceive and appeal to unsuspecting traders, however all of a sudden closes or disappears and intentionally runs away with traders’ funds. That is the darkish facet of the cryptocurrency business, which thrives on the decentralized nature of the business.
Sadly, the pseudo-anonymous nature of the business makes it tough to determine and crack down on the actual culprits of carpet pulling. Nevertheless, customers are struggling to seek out methods to determine such potential tasks and keep away from them earlier than they occur.
One of many respondents to PeckShield’s alert blasted the cryptocurrency business for the booming scams. Twitter consumer Pascal Morsely questioned whether or not the world is prepared for encryption. In keeping with Morsely, there are too many scammers within the cryptocurrency business and there aren’t any preventive measures. He famous that the frequency with which the mat is stretched is one purpose customers would all the time choose a centralized alternate (CEX) by means of a decentralized alternate (DEX).
PeckShield has warned customers concerning the rising variety of rip-off meme cash and suggested them to not fall sufferer to any of them.
