On Feb. 6, PeckShield Alert launched an alert on Twitter that there have been 15 pretend Damus tokens created on Ethereum & BNB chain.
The security firm noted that of the tokens, Damus is a honeypot rip-off; seven have a 100% promoting tax, and the final seven have dropped over 99% in promoting tax. The tokens are, nonetheless, pretend and comprise malware to lure unsuspecting consumers into the entice.
The 100% promoting tax is a crafty method to loot customers off their cash as they switch funds. PeckShield suggested customers to chorus from partaking the token.
Scammers making the most of the business
PeckShield’s CEO, Xuxian Jiang, reacted to the announcement and mentioned that scammers use rising applied sciences to trick harmless consumers for earnings. He additional urged customers to be cautious of faux tokens and suspicious conduct.
Damus administration released an alert on Twitter on Feb. third, stating that Damus doesn’t have a token and don’t have any intentions of realizing one. The alerts additionally mentioned that anybody who had purchased a Damus token had been scammed.
Hackers are desperately attempting to benefit from Damus’s newest success within the business.
Information of faux tokens claiming affiliation with Damus, a decentralized social media protocol, started to floor a number of days after the discharge of the Damus official app. Some individuals have already fallen sufferer to the rip-off tasks, though there is no such thing as a clear data on the statistics.
This pretend token announcement isn’t distinctive within the business.
The crypto market has been tormented by hackers and scammers, leading to billions of losses from unsuspecting victims. In 2022 the crypto market noticed practically six billion dollars in theft.
Probably the most notable rip-off tasks within the 12 months included Axie Infinity’s $650 million Ronin Bridge hack perpetrated by the Lazarus Group. Hackers primarily goal decentralized finance due to its lack of central governance.
The rise to stardom
Damus and its app launch proceed to make headlines as many developments have been unveiled in the previous few days. The star is a decentralized social media app constructed on the Nostr protocol.
The app has acquired a number of donations from Jack Dorsey and different donors and provides its customers a number of benefits over centralized social media platforms. Though the platform has acquired a number of reward since its inception, it is just generally beloved.
For instance, China has banned the app from the nation’s play retailer.
The nation has heavy management over social media and different communication channels and won’t be comfy with a decentralized social media app. Nonetheless, Damus has gained recognition in Hong Kong, surpassing Tiktok in numbers.
The person base of Damus has grown tremendously since its launch, reaching 45,000 members on the primary day and being among the many Apple app retailer’s high ten social media apps. Damus has introduced that they plan to develop the platform additional, and the subsequent model will enable customers to earn satoshi straight on their media posts.