New Tool — Airdropped Scam Tokens Database
You may have seen when we first launched the Dexfolio app, scam tokens were picked up by the Dexfolio app that were otherwise hidden in your wallet.
Scammers send these tokens to a large number of wallets in the hope that some of the recipients will connect their wallet up to their malicious website in order to “sell” the tokens. In order to catch the attention of their targets the scammers artificially inflate the price of the scam token and disable selling, preventing them from being sold on any real DEX. Seeing such a large monetary value in their wallets, some users get tricked into thinking that they’ve hit the jackpot. First, they try to sell their tokens on a legited DEX, such as pancakeswap, but they soon realise the tokens can’t be sold. Thinking that there must be a mistake, users then proceed to navigate to the website mentioned in the token’s name. When they land on the website they are rather conveniently presented with a way to sell their tokens. However, instead of selling the tokens, the hackers take control of certain aspects of the recipient’s wallet allowing them to steal their funds.
We understand how much of a risk this poses to our community and we’ve taken steps to help you to keep safe.
We present to you our new tool, our Scam Token Database: https://tools.dexfolio.org/scam-tokens/
This database will allow you to search for scam tokens that we have collected to play our part in keeping the crypto community safe.