Fake Tokens: How to Identify and Avoid Them

Fake token attacks represent a widespread type of cryptocurrency scams where criminals create fraudulent tokens that mimic legitimate cryptocurrencies, using them to steal users’ money or sensitive data.

This type of attack generally uses communication tools such as Telegram, WhatsApp or WeChat to spread misinformation. A common tactic is running token “pre-sales,” attracting victims with the promise of a much higher future “listing price” compared to the current “pre-sale price.”

In most cases, the losses of digital assets are irreversible. Binance encourages users to constantly learn to protect themselves, staying vigilant and aware of common threats.

For more details, please refer to the blog. Fake Tokens: How to Identify and Avoid Them.