Dogecoin Community Issues Warning About Fraudulent Tokens
The Dogecoin community has issued a warning about fakes that are allegedly related to Dogecoin.
We are talking about the Dogechain project, which claims to bring Dogecoin utilities such as NFT and DeFi, which, according to him, was made possible by placing "wrapped DOGE coins in the smart contract bridge."
However, the Dogecoin developer community has completely disowned him.
A popular Dogecoin-focused Twitter account, Mishaboar, drew attention to this problem and warned Dogecoin users against posting their DOGE in any such "bridge".
The Dogecoin team posted a warning on their official Twitter account: "Over the past nine years, there have been many tokens that have come and gone quickly. 1 Dogecoin = 1 Dogecoin, and there is only one Dogecoin, which is its blockchain. and are not directly related to any tokens. Beware of impostors."
Several Dogecoin Forgeries Turned Out to Be Fraud
There have been many fake fakes in the past that have tried to capitalize on the popularity of Dogecoin. According to U.Today, TeddyDoge (TEDDY), a fake Dogecoin, turned out to be a hoax after its price dropped by more than 99.94% in one day.
Another copycat, DogeMother, turned out to be a decoy scam when its price dropped by 91%.
Before cooling off, Dogecoin experienced incredible growth in the first half of 2021, increasing by tens of thousands of percent to an all-time high of $0.76 in May 2021. Despite the cooling of the price, scammers are still trying to cash in on its popularity by attracting new ones. investors with questionable tokens, which often turn out to be obvious scammers.
https://coin-signal.com/cryptonews/dogecoin-community-issues-warning-about-fraudulent-tokens/
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