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Scammers launched a mass mailing of fake token from Bored Ape Yacht Club

Scammers launched a mass mailing of fake token from Bored Ape Yacht Club

Attackers send cryptocurrency, which cannot be sold later on. It copies the token of the popular NFT Bored Ape Yacht Club collection. 

On March 17, intruders started sending out tokens named ApeCoin worth hundreds of thousands and millions of dollars to various wallets. Users received coins that didn't coincide with the real altcoin contract. Etherscan, the blockchain observer, marks such tokens as counterfeit.

In particular, fake coins worth $3.8 million were transferred to one wallet while the other wallet received $3.6 million. The attackers mailed numerous transactions. Sending fake cryptocurrencies is quite a common fraud scheme. The point is that such coins cannot be sold.

When trying to sell fake tokens, an error is displayed. It could be related to the fact that the sales option is disabled, or it is only allowed for certain email accounts, for example, the issuer’s one.

The main threat posed by such cryptocurrencies is the loss of control over the wallet. When trying to sell a token, a crypto investor can receive a request from attackers for access to the cryptocurrency wallet and all the assets in it. By giving consent, the user can give the attackers full control over the wallet.

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