The Growing Social Network Damus Was Emerged By A Series Of “Fake” Tokens 

Key Points:

• The security firm uncovered 15 bogus DAMUS tokens in the “form” of Damus’ legitimate token.
• These bogus coins, which are issued on Ethereum and BNB, contain dangerous code. Some of the 15 found tokens were classified as “honeypot” – a token that can only be purchased and not sold.

PeckShield, a crypto security firm, has issued a warning regarding “false coins” of growing Web3 social site Damus.

As a result, the security firm uncovered 15 bogus DAMUS coins in the “form” of Damus’ actual token, a decentralized social network that just joined the top ten social networking apps in the US AppStore. These phony coins include harmful code and are issued on Ethereum and BNB, according to the discovery. Some of the 15 found tokens were classified as “honeypot” – a token that can only be purchased and not sold.

Furthermore, PeckShield stated that most of these tokens use a sort of “disguised tax collection,” which levies a 100% levy in order to steal all of the buyer’s money when they deal. Soon after, the security team cautioned users and encouraged them to be careful with these tokens: “Scammers are always taking advantage of new and rising apps to deceive unsuspecting users for profit. And we must keep a watch on these bogus tokens and remain cautious.”

The project immediately promptly issued a statement on Twitter, claiming that Damus does not have an official token and would never have one. Those who purchased DAMUS were most likely duped.

Damus, sometimes dubbed as the “Twitter Killer,” is a decentralized social software platform. The software, which markets itself as a “social network that individuals can govern,” was constructed on the decentralized network known as Nostr. It didn’t take long for the community to respond, as evidenced by the fact that it attained a registration total of more than 45,000 individuals on just the very first day of its introduction.

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.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News