Coinspeaker
Scammers Release Multiple Copycat PYUSD Tokens
Bad actors have attempted to take advantage of PayPal‘s launch of its native stablecoin – PYUSD. The launch, which took place barely 24 hours ago, now has competition from several fake tokens sporting the “PYUSD” ticker.
A Wave of Fake Tokens Strikes, Here’s How to Know If Its Original
According to data from the decentralized exchange tracker DexScreener, there are about 30 new look-alike token pairs that have suddenly popped up in the hours following the launch.
So far, these opportunists have minted the copycat tokens across different chains including Ethereum, Binance Smart Chain, and even Coinbases’ newest layer 2 Base.
As of publication, the largest PYUSD token fraud appears to be one that was minted on Ethereum and has seen over $2.6 million in trading volume. The fake token launched just a few minutes after PayPal launched its own stablecoin.
Another token identifies as “PepeYieldUnibotSatoshiDoge,” and h
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