According to PeckSheild, scammers conducted a rug pull of a fake token called Sleepless AI in anticipation of the upcoming launch of the legitimate Sleepless AI farming project on Binance’s Launchpool platform.
The scammers exchanged 1 billion of the fake tokens for around $91,000 worth of Ethereum, causing the fake token’s price to plummet by 97.5%.
A similar rug pull happened with a fake FomoFi token, where the scammers exchanged over 5.3 trillion fake tokens for around $335,000 worth of Binance USD stablecoins, crashing the fake token’s price to zero.
These incidents come after an October rug pull involving fake Linea tokens, where scammers stole approximately $743,000. Security experts believe a Russian social media user named ‘AltLex’ may have been behind promoting the fake Linea token.
However, the legitimate Sleepless AI farming on Launchpool started on December 28th, allowing users to stake BNB, FDUSD, and TUSD to farm real AI tokens over seven days. Users are advised to only interact with the verified, legitimate Sleepless AI project.
Also Read: Crypto Users Lost $2B to Hacks in 2023, De.Fi Reports
