The counterfeit token is up 27,000% in an hour. It was mistakenly invested $ 2 m

[Vovchik90]

The counterfeit token is up 27,000% in an hour. It was mistakenly invested $ 2 million
The developer André Cronier, known for creating a cryptocurrency that has risen by 100,000%, announced a new project. Unknown persons have already released more than 10 of its clones, one of them was bought by investors



Renowned designer Andre Cronje issuing risen in price per 100 000% token YFI, announced in his blog a new product - Deriswap. This is a decentralized platform, users of which will be able to trade cryptocurrency and derivatives.

Although Cronje did not blog about the development of a new token related to Deriswap, within hours of the announcement, unidentified individuals released more than 10 Deriswap cryptocurrencies and added them to the popular DeFi exchange Uniswap. This is a decentralized exchange, anyone can place their coins on it.



Uniswap users, probably wanting to make money on Cronje's new project, began buying Deriswap tokens issued by unknown persons. As a result, one of the fake tokens has risen in price by more than 27,000% - from $ 0.6 to $ 160. According to astrotools.io , traders invested about $ 2 million in this coin. But some of these funds could have been invested by the creators of the clone token to inflate its rate.



There is a risk that the clone will fall in price from $ 160 to 0, and its holders will lose all their invested funds. There are currently 6,000 fake Deriswap tokens circulating on Uniswap. At the same time, another 155 thousand tokens, according to etherscan.io , are on the wallet of the counterfeit creators. They can transfer their holdings of an asset to the exchange and sell, thereby devaluing the coin. This usually happens with all fake cryptocurrencies. A similar situation arose with the Polkastarter token, then unknown persons created 14 fakes of it within 24 hours after the ICO.

Source: https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

#DeFi

[Vovchik90]

Has anyone invested in a fake Deriswap Token???

[cryptomaniac_xxx]

Oh well, why would people surprise though? This has been the trend and scammers are creating a lot of a fake and counterfeit tokens to take investors money. So yeah, if it will be exposed as clone or fake token then everyone will withdraw causing a big panic for those who has mistakenly invested on it and the price could literally go to zero.

[Gorosden]

This still has everything to do with easy listing of tokens on DEX like Uniswap, this is why I keep warning people about DEX, the safest way of buying tokens on dex is checking smart contract address very well, clones on Uniswap are unlimited, almost all good tokens on there has fake or clones, be ware buyers, this is one reason why centralized exchanges are safer, I don't even remember checking smart contract address on a Centralized exchange

[pealr12]

lol, i feel sorry for those individuals who will fall victim and buy those shitcoins, this is one of the disadvantage of dex honestly, anyone can just create a shit copy cat token and naive investors will pump money into it before realizing they have been scammed, the taste for defi and making quick huge and easy profit will definitely rekt many people.

[nutildah]

Bro, I was all set to merit your post but it turns out it is largely plagiarized from this article:

https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

I would usually report plagiarism and you would get banned but I'm in a second chance kind of a mood. I strongly suggest you add this link to your OP.

Just write:

Source: https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

at the end of your post.

It's an interesting article, just don't let people walk away thinking you wrote it, because you didn't.

[Vovchik90]

Bro, I was all set to merit your post but it turns out it is largely plagiarized from this article:

https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

I would usually report plagiarism and you would get banned but I'm in a second chance kind of a mood. I strongly suggest you add this link to your OP.

Just write:

Source: https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

at the end of your post.

It's an interesting article, just don't let people walk away thinking you wrote it, because you didn't.

Well thank you!

[DoubleAweSeven]

Bro, I was all set to merit your post but it turns out it is largely plagiarized from this article:

https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

I would usually report plagiarism and you would get banned but I'm in a second chance kind of a mood. I strongly suggest you add this link to your OP.

Just write:

Source: https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

at the end of your post.

It's an interesting article, just don't let people walk away thinking you wrote it, because you didn't.

Bro, just report him. He has 300+ post yet he doesn't know how to do this simple thing. Even if it's an alt account, he still deserves to be punished. Hasn't even earned 1 merit yet for doing 300+ post. Probably a lot of his post are plagiarize from somewhere too.

[Vovchik90]

Bro, I was all set to merit your post but it turns out it is largely plagiarized from this article:

https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

I would usually report plagiarism and you would get banned but I'm in a second chance kind of a mood. I strongly suggest you add this link to your OP.

Just write:

Source: https://www.publish0x.com/crypto-worker/the-counterfeit-token-is-up-27000-percent-in-an-hour-it-was-xnlvwle

at the end of your post.

It's an interesting article, just don't let people walk away thinking you wrote it, because you didn't.

Bro, just report him. He has 300+ post yet he doesn't know how to do this simple thing. Even if it's an alt account, he still deserves to be punished. Hasn't even earned 1 merit yet for doing 300+ post. Probably a lot of his post are plagiarize from somewhere too.

No guys, I'm Bounty doing

[leea-1334]

I keep seeing news like this and I keep just wondering why the heck people keep doing this,,, it is like, if you had money would you ever put it into something random that you cannot verify yourself?

This makes me think the whole ICO crowd never really left and just were waiting for another rally:)

[Lizzylove1]

The unfortunate investor either lacks basic technics or he was just too emotional to getting the real contract address. I take my trading life very simple and meticulous.

[nutildah]

Probably a lot of his post are plagiarize from somewhere too.

Yep, you were right about that and OP is now banned. I didn't report him but somebody else reported his other plagiarized posts.

Let this be a reminder to newbies and everybody else about the dangers of plagiarism... your account is likely to go up in smoke if you play with fire (well I dunno if that's the right expression as it takes more guts to play with fire than lazily copy/paste text, but anyway).