In this video, Musk offered "poor families a chance to become rich in a few months" by instantly turning an initial $250 CAD deposit into $6,000 CAD. How to spot viral video scams Understand.. By clicking on the contract address, you'll be able to see that the value of this token is 0.00 which is a clear indication of it being fake. You can also then compare this contract with the contract of the real USDT token. This one does not have any value either, unsurprisingly. An additional way of checking if the token is fake is Token Sniffer .
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Scam tokens often airdrop significant balances to addresses that can be expected to be legitimate holders of the real token. For example, let's look at wARB again. About 16% of the tokens. (opens in a new tab) are held by an address whose public tag is Arbitrum Foundation: Deployer. (opens in a new tab). Since 2020, crypto scam activity has skyrocketed almost 900%, with people losing billions of dollars yearly. On average, the Federal Trade Commission (FTC) estimates individual traders lose at least $2,600 in fraudulent cryptocurrency schemes. With thousands of crypto tokens and coins on the market, distinguishing between legit currencies and.
