Scammers Target Justin Sun With Fake $FOUR Amid Meme Coin Season

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SNEAK PEEK

Scammers are targeting Justin Sun with fake $FOUR amid the rising popularity of meme coins.
PeckShieldAlert warns users to be vigilant and avoid engaging in any suspicious transactions.
The decentralized nature of blockchain technology poses difficulties in identifying scammers and retrieving stolen funds.

PeckShieldAlert, a leading blockchain security company, tweeted on May 11th that Justin Sun, the founder of TRON, received multiple “shitcoins” after his tweets. Unfortunately, this has attracted the attention of scammers who have created a counterfeit $FOUR and are pretending to be Justin Sun.

#PeckShieldAlert #JustinSun continues to receive multiple Shitcoins following his tweets.
We have noticed that a scammer gang created a counterfeit $FOUR 4 days ago & used 0xac82…2a9 to pretend to be #JustinSun.
The scammers pretend to be #JustinSun, buying tons of fake $FOUR… pic.twitter.com/L4axTLR6as

— PeckShieldAlert (@PeckShieldAlert) May 11, 2023

According to PeckShieldAlert reports, the scammers behind the fraudulent $FOUR have created a fake coin and are using the Ethereum address 0xac82…2a9 to impersonate Justin Sun, the CEO of TRON. These scammers purchase large quantities of the fake $FOUR and transfer them to Poloniex. PeckShieldAlert advises users to exercise caution and avoid engaging in any suspicious transactions associated with this address to avoid becoming a victim of this scam.

It is worth emphasizing that scams frequently occur in the cryptocurrency industry. The decentralized and anonymous nature of blockchain technology can pose difficulties in identifying scammers and retrieving stolen funds. Therefore, users must stay alert and implement preventative measures to safeguard themselves from fraudulent activities.

Additionally, as the popularity of meme coins continues to soar in the world of cryptocurrencies, scammers are becoming more pervasive. PeckShield recently uncovered a series of rugpulls linked to ten scam meme tokens, including PEPEDOGE, PEPEC, WOW, MEME, FOUR, NEWPEPE, BENZ, BMW, and POP. Among the newly launched tokens identified is BOBO, whose liquidity was removed immediately after its launch.

#PeckShieldAlert We have detected a series of #rugpulls involving the creation of ~10 Scam #MEME Tokens within the last 3 days. #PEPEDOGE, #PEPEC, #WOW, #MEME, #FOUR, #NEWPEPE, #BENZ, #BMW, #POP, and #BOBO, which was created ~3 hours ago and has just had its liquidity removed.… pic.twitter.com/pVOUMwv5Qt

— PeckShieldAlert (@PeckShieldAlert) May 11, 2023

According to PeckShield, scammers initially funded 3.47 ETH from the MEXC crypto exchange to pump the token’s price and trick unsuspecting investors before draining the pool. The same bad actors created LADYS (LADYS), another new scam token. This warning should be taken seriously by investors, who must remain vigilant and cautious, mainly when dealing with meme coins lacking a credible development team or solid foundation.