Bitcoin Forum

What happened: Fake LOOM Network Tokens on Sale on Etherdelta

Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=2484534 (https://bitcointalk.org/index.php?action=profile;u=2484534)

Reference Link: https://bitcointalk.org/index.php?topic=5078652.0 (https://bitcointalk.org/index.php?topic=5078652.0)
Archived: Reference (https://web.archive.org/web/20181201203221/https://bitcointalk.org/index.php?topic=5078652.0)

There is attempting to scam unsuspecting traders by selling Fake LOOM tokens in exchange for their Ethers on Etherdelta while claiming that "the token price on Etherdelta is at  lower price compared to the price of other exchanges like Binance, In other words "the trader will make profit from selling them off in Binance"
Fact is once you buy these tokens, you won't be able to sell them any where. Your Ethers will be gone while you are left with fake tokens

Proof
The real contract address of LOOM Network tokens is here: https://etherscan.io/address/0xa4e8c3ec456107ea67d3075bf9e3df3a75823db0

This contract address for fake LOOM Network tokens on Etherdelta is: https://etherscan.io/address/0x2e685a1d919fea5aa294d0ee794f492fd9e93611

https://i.imgur.com/gu8uKS3.png

Loom Network is over 6 months old but the fake contract address is showing transactions starting 6 days ago and the funniest thing is they are only 12 transactions. For a big successful project like loom Network, that's an absolutely low number of transactions

Additional Notes: DO NOT BUY THE TOKENS ON ETHERDELTA OR OTHER DECENTRALISED EXCHANGES BEFORE CHECKING THE CONTRACT ADDRESS