What makes scammers prefer binance smart chain over other chains is the ease of creating smart contracts and the cheap fees for deploying them and sending transactions. This is why you'll see more scam tokens on bsc than any other chain.
It doesn't mean that bsc is less secure.
And if am not wrong, the same thing happened on the ethereum network in the past when fees were way lower. But back then, it was used for spamming (advertising) more than scamming.
Topic: Scam tokens are on the raise. - page 2. (Read 239 times)
~snipe~
Can't say I follow completely on the message. I suppose this is peculiar to the listed wallets but then, how does this really work.Is it that, they make away with the funds you invest in exchanging there tokens, be it as an actual investment or exchange fees?
It's never been a new thing that, shitcoins are everywhere in the crypto space, even a project with a genue intent can turn out to be a shitty one should it have low liquidity and the team behind its management aren't working hard enough to keep the project alive. You just see the project dying out and having the funds made from pre-sale of token as a compensation which is wrong!
It does not matter what is the cha. The scammer can use any kind of chain to scam us. Any token actually does not have value. Once a project successfully raised funds they add into the exchange for liquidity. But the problem is most of the projects just skip with the fund they raised. It does not have value even you try to exchange or sell. You cannot do it because there is no exchange for this token. It doesn't matter also you got a free token or bought it from the project. Only token will have value if added on multiple exchanges including decentralized and centralized, then you can exchange it.
I don't think it is fair for newbies in the crypto space not to understand that there are thousands of shitcoins on their BSC, POLYGON, heco wallets waiting to steal their real token. this never happened in the main ethereum smart contract. i don't know why these side chains allow these loopholes for scammers to create, distribute shit tokens just to steal people coins for interacting with their smart contract.
the rate by which these new fake tokens are growing is alarming. it is disturbing that some even has to provide fake liquidity on exchanges.
please if you are new to this cryptospace. please do not sell any free token that you have little or no idea of in your wallet. these are loop holes to access your wallet. be careful out there.
please are loosing there funds just because they found a token in their wallet and they tried to exchange it.
the rate by which these new fake tokens are growing is alarming. it is disturbing that some even has to provide fake liquidity on exchanges.
please if you are new to this cryptospace. please do not sell any free token that you have little or no idea of in your wallet. these are loop holes to access your wallet. be careful out there.
please are loosing there funds just because they found a token in their wallet and they tried to exchange it.
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