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Fake tokens and misleading code tricked investors.
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The illusion of legitimacy fools some detectors.
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Over $32 million was stolen across 1,300+ incidents.
A group of crafty cryptocurrency scammers managed to rug-pull over 42,000 victims out of $32 million since April 2022. They accomplished this through a deceptive approach involving faked token supplies and bait-and-switch contract codes.
Tricking Victims Through Token Minting/Burning
According to a January 18th report by blockchain security firm Blockfence, the scammers manipulate the apparent maximum token supply. They mint new tokens to make supplies seem higher, then burn tokens to reduce circulating supplies artificially.
This makes investors think token values will rise more significantly in the future. However, the scammers can mint endless new tokens to rug-pull victims.
Code Bait-and-Switch Maintains Illusion
The scammers also utilize a code bait-and-switch tactic to deceive
We współpracy z: https://www.thecoinrepublic.com/2024/01/22/scammers-deceived-42k-consumers-using-fomo-and-deceptive-code/
