What is happening with the XCHG token on the MEXC exchange? Why are all these tokens linked to the same IP address?
I take a detailed look into the mysterious activity surrounding the XCHG token and unusual behavior on the MEXC exchange. I investigate the mass creation of tokens and try to understand what is really going on behind the scenes. I also compile a list of tokens that have been traded on the exchange and may be connected to this suspicious activity.
What is a scam token?
Scam tokens are created with the sole purpose of deceiving investors and taking their money. Usually, the smart contracts of such tokens hide functions like mint, which allow the contract owner to create an unlimited number of tokens, artificially inflating the price. Another dangerous feature is the “honeypot” mechanism, where users cannot sell tokens or withdraw funds due to manipulative fees.
These tokens don’t last long — scammers disappear immediately after cashing out. Therefore, it is very important to carefully analyze smart contracts and be cautious with new cryptocurrency investments.
Watch the full investigation here:
https://www.youtube.com/watch?v=kWsVYXMyRUc
