Fake token scams refer to situations in which fraudsters create fake tokens with the same name as well-known tokens but with different contract addresses, and use them to defraud. The main victims of such scams are mostly new users, and the most common targets of fake tokens are USDT, ETH, BTC, etc.
Fraud method 1: The scammers claim that they have some tokens to sell in a hurry, and give a very attractive price. The novice users are greedy for cheap, and after receiving the transferred tokens, they find that they cannot be traded and have no value.
Fraud method 2: Send information by simulating official text messages, emails, etc., add the user’s social account, and pretend to be an official to gain trust. Induce users to visit third-party apps or websites, first transfer “USDT” to the user’s wallet in the guide (the name is the same as USDT, but the contract address is different, so it is actually a fake currency with no value), and then guide the user to withdraw the assets to the scammer Provide the address to complete the scam.
BitKeep reminds users to check the contract address and other information of the token one by one before transferring. The official information of the token shall prevail, and it is not easy to trust third parties.
Offline Trading Scam
Fraud method 1: The fraudsters use the pretense of charging USDT higher than the market price. After defrauding the user’s trust, they let the user transfer USDT directly to themselves. Since there is no third-party guarantee, the fraudster disappears after receiving the USDT, and the user can no longer pass through. Any previous contacts to the scammer.
For such primary scams, BitKeep reminds everyone not to conduct USDT offline transactions with strangers without guarantees, especially those who claim to receive U at a high price.
Fraud method 2: The fraudsters issue fake USDT coins, and when trading with users, they transfer the worthless fake USDT coins they issued to users. What is given to scammers is valuable mainstream currency or fiat currency.
This kind of scam has been upgraded, and it is more difficult for novices to identify. The only way to identify the true and false is to use the hash address of the token. The hash address is the only certificate in the blockchain that can identify a wallet and a token, and cannot be tampered with. Nor will it be repeated.
Then open the token details page through the block explorer in BitKeep. Compare the Hash address of the token given by the scammer with the Hash address of the real USDT. If all letters and alphabetical order are correct, then it is a real token, otherwise it is a fake currency.
If you don’t know how to check, you can provide the token Hash address provided by the scammer to BitKeep customer service to help you check the authenticity.
Fraud method 3: This kind of scam is also a scam where fraudsters buy USDT at a high price to deceive users. The fraudsters sell oil recharge cards to users. The oil cards received by users can indeed be sold on Alipay and exchanged for fiat currency, and then transfer USDT to the scammers. Users can earn a difference of 10-20 blocks for each transaction.
But in fact, it is the collection code given by the fraudster when receiving USDT. It is actually an h5 page of a fake wallet receiving QR code. Once the user scans the code to transfer money, the contract will be secretly authorized, and the fraudster can use this. Transfer all USDT in your wallet.
Even when your USDT balance is low, scammers will use other tricks and methods to lure you to recharge more USDT into your wallet, and then steal your assets.
The prevention of such scams is still the core. Don’t trust strangers, don’t easily scan the QR code provided by strangers, and don’t believe in scams like the high price of U, which all take advantage of the weakness of human nature to steal. Take your assets.
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