Cryptocurrency News TheBitTimes.com

Some tokens that share the same name as Musk’s chatbot Grok surged by more than 30,000% in price, although their legitimacy is unclear. New shady tokens emerge on the decentralized finance (defi) market as American billionaire Elon Musk unveiled his new artificial intelligence chatbot dubbed Grok. According to data from DEXTools, around 394 tokens mention GROK in their name to lure inattentive investors. Fake Grok tokens | Source: DEXTools You might also like: Squid Game crypto token scammer tracked by podcasters Some of the tokens demonstrate an extremely high level of daily volumes, registering millions of dollars worth of crypto. A token called GrokDogeX is showing a ridiculous 31,000% surge in price over the past 24 hours, even though the token itself was launched on Nov. 5, 2023. GrokDogeX price surge | Source: DEXTools Many, if not all, self-developed eponymous tokens that flood the defi market eventually turn out to be scams. They quickly col...

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...

Israel i police have raided a company run by some of the country’s most powerful Crime families that they allege developed software used to defraud crypto investors out of millions of dollars. As reported by ynetnews, the Israel Police National Cyber Crime Unit has been investigating the company for months, and on Monday, officers of Lahav 433 — also known as the ‘Israeli FBI’ — carried out a raid that saw six individuals arrested and dozens more detained for questioning. Israeli police were aided during the operation by the Israel Money Laundering and Terror Financing Prohibition Authority, the Israeli Tax Authority, and German cybercrime specialists. The scam the company is accused of perpetrating worked by luring crypto investors with promises of handsome profits before issuing them login details that would allow them to access their supposed portfolio. However, these ‘profits’ were actually created and controlled by the scammers and once traders atte...