The cryptocurrency world has been witnessing both exciting developments and worrying events lately. Popular meme coin project Floki Inu has issued a warning to investors about fake tokens. At the same time, Binance cryptocurrency exchange warned its users about increasing fraudulent activities on Telegram. In this article, we will examine the details of these two important developments and offer tips on how investors can stay safe.
Floki Inu warned investors
Floki Inu, the popular meme coin project, has taken action to warn investors against fake tokens. It has been reported that fake tokens under the Floki Inu brand are circulating on the Solana and Base blockchains and that these tokens are used to defraud investors. The official Floki Inu token is only available on the Binance Smart Chain (BNB) and Ethereum (ETH) networks. The correct contract addresses of the token on these networks are:
- ETH: 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e
- BNB: 0xfb5b838b6cfeedc2873ab27866079ac55363d37e
The Floki Inu team recommends that investors obtain token information only from official sources and be wary of fake tokens. The Floki Inu ecosystem continues to thrive despite these fraud attempts. The usage areas of the Floki Inu token are expanding with new projects such as FLOKI Name Service. This service has been rolled out to the BNB Chain mainnet and allows users to register decentralized domains with the .floki extension. In particular, FLOKI achieved an important milestone by reaching more than 417,400 owners on BNB Chain. As a celebration of this success, a program was launched to reward owners with interest income. Even though Floki Inu price has been in an uptrend over the last 24 hours, it failed to surpass the daily high of $0.0001709. The price is currently trading at $0.0001638.
Binance warns about Telegram scam
On the other hand, cryptocurrency exchange Binance warned its users about increasing fraudulent activities on Telegram. These scams involve cybercriminals posing as Binance employees to commit fraud, phishing attacks, or investment fraud. To counter this threat, Binance published an article describing common Telegram scams and giving tips on how to avoid them.
Binance advises users to always carefully verify the information of their Telegram contacts. When checking account information, users should pay attention to each letter in the username, checking uppercase and lowercase letters as well as special characters. As a result, to protect yourself from scammers, check official account information and usernames. Also make sure that the letters and special characters in the account information are correct. You may also find it helpful to report suspicious accounts to Binance.
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