24 Rug Pulls In 10 Days, Scam Tokens Ride The Wave Of Meme Coin Mania

Scam coins are riding the wave of meme coin mania led by PEPE coin frenzy. PeckShield has detected 24 scam meme tokens within the last 10 days that rug pulled their investors.

Scammers seem to have taken the opportunity of meme coin mania to create and liquidate their fake tokens and drain millions of dollars of investors. According to the PeckShieldAlert research, there has been a huge spike in meme coin rug pulls in the last 10 days.

These meme coins rug pulled their investors

PeckShield listed 24 fake meme tokens, including BENS, PSYOP, FOG, TINDER, and WorldCoin that had their liquidity removed in the last 10 days. These all tokens emerged from the ongoing meme coin mania as these terms trended on social media for some reason or another. SEI token, which was created earlier today, has already had its liquidity removed.

PeckShield reported that SEI token scammers initially funded 5.19 $ETH from OKX exchange, pumping the token’s price to lure investors and then draining the pool.

Earlier this month, PeckShield warned against 10 meme coins created within three days by scammers. Scam token BOBO, created within a few hours, had its liquidity removed soon after it got some heavy investments, a copybook definition of a rug pull scam.

Peckshield warned against these fake meme coins in ciculation: SHITMEME, BENS, WorldCoin, MONKEYS, ERDR, Magneto, STARK, ZAT, LADYBOY, USACOIN, WLD, POGO, Miniclip, PORN, FROGS, RNDT, PSYOP, POPCAP, FOG, TEMU, TINDER, TAGGED, SEI, and BEREAL.

Bitcoin pizza day launched a slew of fake coins

Fake token’s issuers profited over $200,000 from pizza-related rug pulls on the 13th anniversary of Bitcoin Pizza Day. The pizza day is celebrated as it is considered the first ever commercial bitcoin transaction. Around 14 pizza-related meme coins were issued a day before the Bitcoin Pizza Day and most of them turned out to be scams, as per dextool. PeckShield further warned not to fall for the latest created token BEREAL.  

Earlier, DJ Steve Aoki’s Twitter account got hacked to promote a crypto scam that caused an investor to loose $170,000 in a phishing scam related to the PYSOP token, whose founder, Ben.eth, has been asked to settle a class-action investor suit.