The cryptocurrency world is no stranger to scams, but recent events have shed light on a more alarming trend—established exchanges themselves engaging in fraudulent activities. One such incident involves the LBank exchange, which has been accused of deliberately deceiving its users by listing and trading a fake DOGS token.

How LBank Executed the Scam
In a move that shocked the cryptocurrency community, LBank, a well-known Chinese exchange, listed a token under the name "DOGS" just days before the official DOGS token was scheduled to be listed on exchanges. What made this particularly disturbing was that LBank didn't merely make an innocent mistake. They actively promoted this fake token, pushing its price to $0.04, luring unsuspecting investors into what was essentially a trap.
The Fake DOGS Token Trading on LBank
LBank's actions did not go unnoticed. Shortly after the fake token began trading, the legitimate DOGS project team issued an urgent statement. They categorically denied any connection to the token being traded on LBank, labeling it a complete scam. The team emphasized that the official DOGS token had not yet been listed, making any trades on LBank fraudulent by default.
The Impact on Investors
The repercussions of LBank's deceitful actions were severe. Many investors, trusting LBank as a reputable platform, rushed to purchase the token, only to find out later that they had been duped. This event highlights the dangers of trusting even well-known exchanges without conducting thorough research.
Lessons for the Crypto Community
This incident with LBank serves as a stark reminder that the cryptocurrency market, while full of opportunities, is also rife with risks—sometimes even from the platforms that are supposed to safeguard your investments.
Verify Before You Invest
Before investing in any cryptocurrency, ensure that the token is officially listed and verified by the project team. Blind trust in an exchange's listing can lead to significant financial losses.
Choose Your Exchanges Wisely
While LBank's actions are a cautionary tale, it's crucial to remember that not all exchanges operate with such malice. Stick to well-established, highly-regarded exchanges that have a transparent track record.
Be Wary of Unofficial Listings
If you see a token being traded before its official release date, it’s a red flag. This is often a sign of fraudulent activity designed to prey on eager investors.
The Future of DOGS Token
Despite LBank's attempt to deceive investors, the official DOGS token is still on track for its legitimate launch. According to the development team's latest announcement, the timeline for claiming DOGS tokens and their listing on exchanges is as follows:
- Claim to exchanges and Telegram Wallet will remain open until 4 pm UTC on 23rd August
- Claim to non-custodial wallets will be available from 8 am UTC on 26th August
- TGE and listing will take place at 12 pm UTC on 26th August
This official launch will mark a new beginning for the DOGS project, offering legitimate investment opportunities. Until then, any DOGS trading is likely a scam, as evidenced by the LBank debacle.
Conclusion: A Warning to All Investors
LBank’s deliberate involvement in the fake DOGS token scam is a chilling reminder that even large exchanges can be complicit in fraudulent schemes. Investors must remain vigilant, conducting thorough research and questioning the legitimacy of token listings—even on seemingly reputable platforms.
The cryptocurrency market is full of potential, but it is also fraught with risks. Protect your investments by staying informed, being cautious, and never taking an exchange’s actions at face value.

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$RWA Ecosystem: A Week of Milestones and Progress

The #RWAInc ecosystem reached important benchmarks during this week demonstrating both its increasing adoption speed and dedication to blockchain innovation. Powerful advancements created a foundation for the project's transformative upcoming phase.
The first day of the week started with #RWA 's listing on #LBank which stands as a worldwide trusted exchange focused on secure trading alongside high liquidity. Users in over 200 countries now have access to $RWA through this move which strengthens the project's worldwide reach.
The RWA Telegram App by Flooz arrived as a new feature alongside its launch to let users transact and regulate $RWA operations within the Telegram platform directly. The merged system makes it simpler for users to access the ecosystem while creating better overall accessibility.
A midweek partnership with #XYO introduced cryptographic proof-of-location technology for transforming RWA verification processes. The project's commitment to trust and transparency finds support through this team-up. The AI-powered RWAI platform received funding to carry out RWA project research and reporting along with a token $RWA utility addition.
The project conducted its first Initial DEX Offering (IDO) with #STR8FIRE through which it tokenized Hollywood-level intellectual properties into RWAs. The achievement demonstrates planned strategic development along with diverse ecosystem expansion.
The social mining function of DAO Labs' RWA Hub plays an essential role because community contributions magnify these advancements to increase their reach throughout the network. The 25k buy-back and burn completed the week while fortifying the token economy and providing a solid conclusion to the week's progress.

Join the revolution! With M20, you're not just a part of the future; you're shaping it. Explore our ecosystem and be part of something extraordinary.With M20, users can easily connect to Crypto, NFTs, Blockchain, DeFi and many more coming decentralized applications, all from a single access point.mCoin built on our M20 blockchain. We are proud to be listed on top-tier exchanges, and we look forward to the potential growth of m20 native coin.#M20 #blockchain #M20 #m20chain #web3    #crypto #DeFi #tradingbot #nfts #web3academy #mCoin #metaverse #metarise #MEXC #Lbank