The more the recognition of the crypto money industry increases, the more fraud attempts seem to increase.
Launched in August “JRR Token” A cryptocurrency named, predictably, imitates the author of this work, John Ronald Reuel Tolkien.
The token, which was advertised by Billy Boyd, who played Pippin in the Lord of the Rings himself in August, is now on the agenda.
JRR Token Scam on Binance Smart Chain Network
Launched on Binance Smart Chain, the token has a supply of 19 trillion. Judging by the whitepaper, it seems to have descriptions similar to the same ring that Frodo was trying to destroy:
“One token to rule them all. The only token that cannot be mined. The only token to hold for all. A marketing that brings it all together.”
However, only the marketing factor was made from what was promised, and although the token reached many people, it did not end well.
What the Squid Game-oriented token did last month, which fooled many people and caused millions of dollars in damage, it now tried to do the Lord of the Rings-oriented token, but it has not been fully successful yet.
In fact, although Tolkien’s heirs directly complained about the use of naming rights, it is not known how the court ended.
According to information shared by lawyers for Tolkien’s heirs, the Florida-based developer was ordered to pay an undisclosed amount of compensation. In addition, it was decided to close the site called JRRToken.com, which was opened for the token, and the project may have hit the bottom before it could reach its goal.
*Not Investment Advice.