Carefully! Fraudsters sell "Twitter Coin" under the guise of Elon Musk

Photo: Theo Wargo/Wireimage/Getty Images.

In the field of cryptocurrencies, one of the main factors that repel both smart investors and beginners is the increased level of risk. This is absolutely everywhere: the risk of entering bitcoin, after which it will fall and cause a loss, the risk of acquiring an NFT token, which no one will buy later, the risk of acquiring a fraudulent cryptocurrency, and then losing access to your money, and so on.

However, all investors and traders in the cryptocurrency industry are driven by one thing - the desire to get rich. And the faster, the better. Due to their inexperience, beginners can get into tokens, which seem to bring a fast one, but after that they have big losses.

More than a year ago, an interesting scheme with a divorce on the Pancake Swap site, which lives to this day and devastates the wallets of careless crypto enthusiasts, became widespread. Its essence lies in the principle of the pyramid. Through advertising, many participants are attracted to buy a token, along the way inventing a beautiful story for it. Due to mass purchases and the help of the organizers themselves, the value of the coin is growing by leaps and bounds. It would seem that it could be easier than making a deposit at the very beginning and fixing big x's and having time to exit, right?

However, there is a catch in this scheme - the creators of fraudulent cryptocurrencies create a smart contract that allows you to exchange your money for their token through Pancake Swap, however, when you try to take profits, the service will kindly report a lack of liquidity for the transaction or insufficient money in the wallet to pay the commission for operation. Nothing can fix the error, and therefore a deposit to your wallet will not bring victory.

With the purchase of Twitter by Elon Musk, rumors began to appear about the release of the Twitter Coin token. Given the active position of promoting Dogecoin by the new owner of the site, this looks very strange. Against the backdrop of rumors, scammers who create deceptive videos using Deep Fake technology began to become more active. In this way, they lure their victims into buying Twitter Coin after a successful first listing on the Pancake Swap so that the coin can be sold after listing on major exchanges. It would seem that the scheme is as simple as three kopecks, but if there were no naive victims, then there would be no such “generous” proposals.

An example of a scam video that went public today. Deep Fake technology is visible to the naked eye, but this does not prevent attackers from getting their way

This is far from an isolated case of such fraud in the vast cryptocurrency industry. We urge you to refrain from such adventures and avoid losing funds by ignoring such offers. Only a very narrow circle of people can have access to such initial offers and will never be exposed in this way.