Binance Flags Major Concern for Crypto Traders: Details
Major crypto exchange Binance has issued a crucial warning to the crypto community regarding a surge in fake token scams. In a recent tweet, Binance alerted crypto traders and investors to a growing threat, in which fraudsters are creating fake crypto assets that closely mimic legitimate tokens.
“Fake token scams are on the rise. Fraudsters are creating fake crypto assets to mimic legit ones, then using them to steal funds or data. Stay sharp. Always DYOR,” Binance wrote.
In a blog post, Binance explained a fake token attack as a type of cryptocurrency scam in which malicious actors create counterfeit or fraudulent tokens that mimic legitimate…
