As a researcher who has delved into the world of blockchain and cryptocurrencies, I find myself deeply concerned about the recent wave of scams (scamers exploiting the latest trick to burn-legitic ways to de scammorments_with the most likely, in the first person’s life experience, it is essential to stay informed and vigilant. The rapid advancement of technology has brought both opportunities and challenges for those who navigate this complex landscape.
Scammers have discovered a new trick to exploit Solana users, burning their tokens just seconds after purchase. According to Slorg from Solana’s Jupiter Core Working Group, fraudsters are using a Solana token extension to delete users’ crypto holdings without a trace.
In a recent article on X, Slorg explained that scammers have exploited the “Permanent Delegate” functionality within Solana’s Token 2022 standard. Originally intended for legitimate purposes such as token recovery and automatic payments, this function can also be manipulate to quickly destroy tokens rapidly.
In simpler terms, a user traded a token labeled “RED,” but soon discovered that the tokens had disappeared within seven seconds. This situation enables swindlers to incinerate or move tokens without limitations, leading to cause confusion and possible monetary losses for unaware users.
One method that scammers may employ is burning or token holders could be subjected to is token burns. This practice involves intentionally removing tokens from circulation, which in turn impacts the token’s price and can mislead other investors into thinking the token’s value has remained consistent. Scammers might utilize this technique to manipulate markets or tamper with token supply.
Security specialists Beosin and PeckShield concur with Slorg’s insights. They propose that potential tricksters might strive to manipulate token economics or mislead users to gain profits from Decentralized Finance (DeFi) protocols connected to the token-related. This phrases the same, as: DeFi platforms related to deception of DeFi is known for-called the tokenomics not just as it has been manipulated by malicious actors.
In the end, there are many different ways for me, as a newcomer in the first person as a crypto investor if possible: Slorg urges users to be vigilldown’s tools like those from Jupiter and RugCheck can help identify risky tokens and prevent such scams.
As new token features emerge, staying informed and cautious is key to safeguarding your crypto assets.
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2024-09-04 10:44