Vitalik Buterin’s Proposal, Scammers Launch THE Token

Here are several issues with THE, the cryptocurrency created by the developer of Ethereum (ETH), and why buying THE at this time could be risky for retail customers.

CEX listing, 100M airdrop to Vitalik Buterin

The token, a brand-new meme coin, was introduced on October 14, 2022 in response to a recommendation from Vitalik Buterin. The inventor of Ethereum (ETH) pondered why this appealing sticker was still available for free.

An Ethereum memetic token contract was launched immediately after his suggestion (ETH). The address of Vitalik received an immediate transfer of 100 million THE (or 10% of its supply).

The token pumped like any other meme coin throughout the course of the next two days. However, PeckShield warning specialists revealed that several contracts related to THE supply are essentially honeypots, allowing users to only add liquidity to THE network and preventing withdrawals.

THE token has already been listed by MEXC Global centralized cryptocurrency exchange. Also, Uniswap V3 THE-WETH liquidity pool gains steam.

Vitalik Buterin doesn’t promote THE

On Telegram, eponymous English and Chinese groups are aggressively promoting THE token. The groups simply shared THE buying statistics. Additionally, a video purporting to be of Vitalik Buterin promoting THE Protocol and its coin is circulating on TikTok.

Vitalik, though, didn’t say anything like that. The THE-themed Telegram groups each have 1500–2000 members as of the time of publication, and THE’s Twitter account has over 2,500 followers.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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