Fake MetaMask Tokens Priced 2600% Before They Ended Up Rug-Pull And Scammed Hundreds Of Users In A Scammer’s Scheme
With users speculating that the popular wallet MetaMask will airdrop, and many seem to believe that it will take a snapshot on New Year’s Eve. This allowed the scammers to take advantage of this opportunity to lure in the unwary. By creating fake MetaMask governance tokens and using the ticker “MASK” and trading them on Uniswap.
This was immediately detected by the user. And more than 390 users bought it. As the token has a trading volume of over $9 million at the time of writing, But eventually the pool’s liquidity dried up after that.
One Twitter user reported that Such counterfeit tokens are locked so they cannot be sold. When approximately 1 million tokens are purchased
Twitter user @lindyape has shared a screenshot of the transaction history of Ether holders who bought MASK for 22 ETH (almost $88,000) and were unable to sell it at any price.
While the token is believed to be one of the top 100 in applications on DexTools, Twitter user @cobynft explained that the MASK token issuer inserted malicious code in its description. of the tokens that the website operates This results in a “Verified” symbol that appears to have been verified.
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