The Reddit group now mocks a crypto scammer who misplaced his seed funding on his personal fraudulent scheme.

Within the r/pancakeswap subreddit — the general public discussion board of decentralized change Pancakeswap — a Reddit person sought assist in returning funds from a BEP-20 token he created. Because it turned out, it was a rip-off token that was pretending to be an present unranked challenge, having the use case of mining cryptocurrency on cell phones.

For the report, might or not it’s in Ethereum (ETH) or Binance Good Chain (BSC), anybody can have the flexibility to create tokens of their very own. However as a result of it’s cheaper to make use of, Binance appears to be the go-to community for scammers.

Crypto scammer will get dose of personal drugs

Based on, the publish is now deleted on Reddit, however the person reached out to the group and stated, “Hey, I created a token on pancakeswap however now I need my a reimbursement. It says I can’t commerce it again as a result of worth impression is just too excessive. So I mainly misplaced 366$? Please assist.”

Apparently, the user-created the PI token whereas additionally promoting it on the premise of being the BSC token for one more cryptocurrency of the identical identify. The publish historical past of the person confirmed he was selling an affiliate hyperlink for this different digital foreign money.

Hit with a sequence of scams

The Binance Good Chain (BSC) has been hit with a sequence of scams just lately.

The most important up to now was the incident involving MeerKat Finance in early March, wherein scammers had been capable of get a complete of $31 million, made up from 14 million BUSD and greater than 72,000 BNB. There have been others, reminiscent of PopcornSwap, Zap Finance, Tin Finance, and TurtleDEX.

Regardless of Binance taking the safety of customers critically and is energetic in compensating victims, as was the case of the WineSwap exit rip-off, it nonetheless stays true that anybody can create a wise contract token by it and use it for related bogus actions.


Picture courtesy of Cointelegraph News/YouTube

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