Scammers exploit Bitcoin ETF hype with fake IBTC token
Crypto investors have fallen victim to a scam token , which shares the same ticker as BlackRock’s legit ETF. BNB Chain-based iShares Bitcoin (IBTC) token has scammed investors for nearly $90,000 worth of crypto as the crypto community is abuzz with spot bitcoin exchange-traded fund (ETF) excitement. According to an X post from a blockchain analytics firm PeckShield, a bad actor has swapped one quadrillion IBTC token s for 394.8 Binance Coin (BNB) worth of $89,000 through PancakeSwap, with IBTC’s price immediately dropping by 100% from $0.0025. #PeckShieldAlert #slippage iShares Bitcoin $IBTC on #BNBChain has dropped -100% 0xf495…5B37 has swapped 1,000,000,000,000,000 $IBTC for ~394.8 $BNB (worth ~$88K) *Note*: The #rugpull token shares the same name as the legitimate ones pic.twitter.com/rT3XLoqHqF — PeckShieldAlert (@PeckShieldAlert) October 26, 2023 Once the scammer swapped IBTC for BNB. They sent the whole sum to 0x3f…04ed, an address that recei...