In the cryptocurrency world, Ethereum-focused hits draw our attention from time to time. The numbers are getting really big. Especially those who want to earn big numbers are the victims of such profiteering. Now we have such news. There are recommendations to pay attention to, especially for 2 altcoins.
Ethereum hit
We all know how much enthusiasm meme coins have created in the cryptocurrency space. However, sometimes this enthusiasm can be abused. A recent statement draws attention to this situation. Accordingly, it reveals the scam of a scammer who took profits of 160 ETH ($315,000 worth) last month by capitalizing on investors’ interest in meme coins. Lookonchain, an on-chain analytics platform, has uncovered fraudulent activities. Accordingly, it has issued a warning about two newly created meme coins.
According to Lookonchain’s findings, the scammer started its operations by creating the meme coin TOMMY after withdrawing 1.5 ETH from the KuCoin cryptocurrency exchange. The scammer provided 1 ETH of liquidity to TOMMY, making a substantial profit of 28.7 ETH, equivalent to $53,000, in 18 days.
The scam continues
Undaunted, the scammer continued to create three more meme coins, KSI, ZUCK, and BILL, following the same pattern. This led to another significant misfortune, accumulating 140 ETH (around $260,000).
Lookonchain has warned investors about two more meme coins currently being created by the scammer: WALTER2.0 and GIGA2.0. Liquidity has not yet been withdrawn from these projects. However, investors are strongly advised not to buy these coins.
exploiting enthusiasm
Such activities are particularly noteworthy in times of enthusiasm in the crypto money world. Scammers target new entrants and uninformed investors. In such an environment, it is extremely important for investors to do their research. However, when the level of financial literacy is low, the fraudsters also celebrate. In such a case, the most important thing to do is to apply to the knowledge holders of the field. To benefit from their knowledge.
Unscrupulous individuals continue to exploit the enthusiasm around these beings. cryptocoin.com As we have repeatedly stated, investors should be careful when dealing with meme coins. The fraudulent activities of the person in question serve as a reminder to do extensive research and exercise due diligence before investing in such volatile ventures. This is how we do this reminder. The volatile nature of cryptocurrencies should not lead you to fake projects.
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