Meme cash, typically impressed by web developments or memes, have witnessed a surge in curiosity, pushed by the need for fast income and the joy surrounding their risky nature.
Sadly, this has additionally attracted unscrupulous actors looking for to use unsuspecting traders.
The present meme coin mania was fueled by the astounding rise of PEPE, which has rallied almost 55,000% since its launch on April 18, reaching a market capitalization of above $1 billion in solely three weeks.
Whereas looking for the subsequent PEPE, traders ought to beware and never fall for the lure of dangerous actors who create rugpulls to rip-off unsuspecting traders.
PeckShield flags 10 rip-off meme tokens
Within the ever-evolving world of cryptocurrencies, meme cash have gained important recognition. Nevertheless, the place there may be recognition, scammers are by no means far behind.
In a brand new tweet, blockchain safety agency PeckShield says it has detected a sequence of rugpulls involving the creation of 10 rip-off meme tokens inside the final three days. The meme tokens involved are PEPEDOGE, PEPEC, WOW, MEME, FOUR, NEWPEPE, BENZ, BMW and POP.
#PeckShieldAlert We’ve detected a sequence of #rugpulls involving the creation of ~10 Rip-off #MEME Tokens inside the final 3 days. #PEPEDOGE, #PEPEC, #WOW, #MEME, #FOUR, #NEWPEPE, #BENZ, #BMW, #POP, and #BOBO, which was created ~3 hours in the past and has simply had its liquidity eliminated.… pic.twitter.com/pVOUMwv5Qt
— PeckShieldAlert (@PeckShieldAlert) Could 11, 2023
Additionally on this class is newly created meme token BOBO, which PeckShield says was launched hours in the past and simply had its liquidity eliminated.
PeckShield reported that the scammers initially funded 3.47 ETH from the MEXC crypto change to pump the token’s worth to trick unsuspecting traders earlier than draining the pool. It additionally reported that the identical dangerous actors created token LADYS (LADYS), warning traders to not fall prey to this new rip-off token.
This requires warning on the a part of traders, who should stay vigilant and concentrate on the dangers related to meme cash, significantly these missing a strong basis or credible growth workforce.