Scammers are now taking advantage of fake tokens through #AI , #RWA , #DePIN and #memecoin rebrands.
Here are 4 schemes scammers use and how you can avoid them.
1. Initial Coin Offerings (ICOs) and Token Sales:
Attackers may launch fake ICOs or token sales, enticing investors with the promise of getting in early on a groundbreaking project.
Once they collect funds, they disappear, leaving investors with worthless tokens.
2. Airdrops and Giveaways:
Fake tokens are sometimes distributed through airdrops or giveaways, where users are asked to provide personal information or pay a small fee to receive the tokens.
This can lead to further scams or identity theft.
3. Pump and Dump Schemes:
Scammers may artificially inflate the price of a fake token through coordinated buying (pump) and then sell off their holdings at the peak (dump), leaving other investors with devalued assets on their hands.
4. Launchpool Token Scams:
Fraudsters exploit hype around legitimate exchange promotions, offering "discounted" tokens through unofficial channels. These fake tokens capitalize on real launches but aren't associated with reputable platforms.
