FLOKI Investors Beware: Developers Issue Critical
Warning For The Shiba Inu
Competitor
FLOKI Investors Beware: Developers Issue Critical Warning For The Shiba Inu
Competitor
by Scott Matherson
2 mins ago
in Floki Inu
0
The development team behind popular dog-themed meme coin and Shiba Inu
competitor, Floki (FLOKI) has issued a critical warning to investors. The
Floki team has alerted its community to be vigilant against a new scam attack
designed to exploit investors.
Scammers Target Floki Investors
On June 29, the Floki team took to X (formerly Twitter) to alert community
members about the increasing prevalence of scams targeting potential FLOKI
investors and current meme coin holders. According to the developers, these
scams involve the creation and promotion of fake tokens purported to be
legitimate FLOKI coins.
Related Reading: Here’s Why PEPE Price Has Been Struggling Over The Weekend
The scams claimed that Floki had issued tokens on the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum-based
blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн, Base and independent Layer 1 blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн, Solana. As a result, the
development team indicated that these crypto scams are designed to trick
unsuspecting investors into purchasing worthless fake tokens , potentially
leading to significant financial loss for Floki investors.
The development team emphasized that the FLOKI token is only tradeable on
Binance Coin (BNB) and Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) network chains with the respective
wallet addresses 0xfb5b838b6cfeedc2873ab27866079ac55363d37e and
0xcf0c122c6b73ff809c693db761e7baebe62b6a2e.
Additionally, the development team has stressed the importance of vigilance
and caution among community members and investors. They confirmed that any
other claims that FLOKI tokens can be traded on network chains other than the
aforementioned ones are false and deceptive.
They have urged investors to stay safe and verify the legitimacy of any
Floki-related investments or information from official sources before
executing any transactions. By spreading awareness of scams , the Floki
community can collectively work to thwart the efforts of scammers and promote
a safe digital space for investors.
Prevalence Of Scam Attacks In Meme Coin Market
The Floki development team’s recent warning of fake scam tokens comes amid a
broader trend of increasing scam activities in the meme coin market and
broader crypto space. Including Floki, other popular meme coins like Shiba Inu
and Dogecoin (DOGE) are continually alerting community members of new scam
attacks targeting investors.
Earlier on June 2, Shiba Inu’s lead developer, Da Vinci , uncovered a similar
scam attack to the recent Floki incident. Da Vinci announced a new scam
involving the spread of fake TREAT tokens across various crypto exchanges. The
TREAT token is the newest token addition to the Shiba Inu ecosystem which is
designed to provide liquidity to the SHI stablecoin .
Related Reading: Pundit Predicts FLOKI Bounce As Price Holds $0.000155, Here’s
The Target
At the time, Shiba Inu’s lead marketer, Lucie , reported that the scam
attackers had dispersed the fake TREAT coins before the token’s official
launch into the market. Investors who purchased these illegitimate tokens,
which had no affiliation with Shiba Inu , were unknowingly acquiring worthless
crypto assets with no real value or community support.
Given the unmitigated accessibility of the cryptocurrency space, many
malicious actors have sought to exploit the popularity and volatility of meme
coin communities, primarily targeting investors using all forms of scam
tactics . This rise in scam activity highlights the need for increased
awareness and vigilance in the digital asset industry. Token price falls to
daily lows | Source: FLOKIUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com