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Shiba Inu (SHIB) Rival Issues Important Scam Alert: What Happened?
Gamza Khanzadaev
Floki Inu (FLOKI) warns of cryptocurrency scams, urges vigilance against fake token schemes
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Floki Inu (FLOKI) has issued a strong warning to his community, informing investors of potential scams targeting the popular token meme. So, the official account of X published a warning on its official channels, stating that scammers are claiming that Floki tokens are available on platforms like Base or Solana, when in fact they are not.
Floki Inu reminds everyone to be on their guard. They say their token can only be traded on Binance and Ethereal blockchain. They also provided contract addresses for verification.
The announcement comes as concerns grow about fraud in the crypto space. Scammers often create fake tokens with names, symbols, or addresses that appear to be legitimate projects. They use these tactics to deceive unsuspecting investors, sometimes even sending small amounts of fake tokens to wallets to make them appear legitimate.
Despite these challenges, there is a positive development in the broader cryptocurrency landscape. Recent reports indicate a decline in cryptocurrency scams throughout 2023.
Second Catenalysisa prominent blockchain data platform, scam-related revenues saw a notable decline of 29.2% compared to the previous year. This decline reflects increased awareness among investors and improved security measures by crypto platforms.
On the other hand, while cryptocurrency-related scams have slowed down, other forms of cybercrime such as ransomware attacks and darknet market activity involving cryptocurrencies appear to be on the rise.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated in Finance and Credit with a specialization in securities and financial derivatives. He then obtained a master’s degree in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.