The fake altcoin appeared on the PancakeSwap decentralized exchange after the original coin was listed on Binance. Losses of traders on the purchase of a token amounted to $ 24 thousand.
Unknown created a fake version of the token Beta Finance, which is started to be traded on centralized Crypto Binance sharply risen in price by more than 6500%. A fake token appeared on the PancakeSwap decentralized crypto exchange.
Also, unknown persons carried out a spam attack on the official Telegram channel of the Beta Finance project, during which they sent out the address of a “fake” smart contract. Users who bought tokens under this contract cannot sell them.
When trying to get rid of the token, the trading platform gives an error. According to the DEXTools service, the trading volume of a counterfeit copy of the Beta Finance token exceeded $ 24,000.
Based on the fact that the counterfeit token cannot be sold, traders purchased them for $ 24,000. At the moment, the real Beta token is traded on PancakeSwap. Finance.
Beta Finance is a cryptocurrency trading platform that allows clients to issue loans in digital assets. The key feature of the site is that users can issue loans not only in large cryptocurrencies, but also in little-known tokens.