Coinbases of in-house blockchain start, followed by Imperspart tokens

Coinbases of in-house blockchain start, followed by Imperspart tokens

Coinbase introduced his own Layer-2 Blockchain yesterday, which was built in cooperation with Optimism in his surgical stack.

The new Layer 2 Blockchain, named Base, will host many of the on-chain products of Coinbase and offer EVMS developers at low costs.

piggyback on the latest news

Unfortunately, opportunistic villains try to make quick money on the success of other companies. Not even a day after the start of Base, Solidus Labs announced about his token Sniffer website that at least four new tokens were identified, all with names that play on the new product of Coinbase, such as Base token and even the very generally named "Coin Chain."

🚨scam alarm: since ’S test net start of @Buildonbase were created to change from the hype around the Hype benefit.

The details of the token: pic.twitter.com/lnqjfmcozw

- tokensniffer.com (@token_sniffer) 23. February 2023

These tokens try to spread a touch of legitimacy in the hope of tempted gullible users to buy their tokens before realizing that they have nothing to do with coin base. Unfortunately there is an even bigger problem: According to the token sniffer, 3 of the 4 tokens in question seem to be.

In the crypto world, a honeypot is an intelligent contract that does not allow anyone to remove money apart from the contractor as soon as it has been paid into the wallet, which means that even if a user recognizes that he has been cheated, he cannot do much about it.

one of these tokens, base, rose by 250 % according to coinmarketcap and reached the price of $ 7.05-what the Coindie market capitalization from to around $ 1 million, before it crashed to around $ 2 at the time of the creation of this article.

In addition, Coinbase has explained that they do not intend to issue token that are connected to this new blockchain - therefore further tokens of this kind can be dismantled as fraud.

market trade

Unfortunately, new tokens have been made repeatedly, which are trying to benefit from the market hype, which according to Bloomberg reveals a certain level of market trade in the crypto area.

According to Darius Tabatabai, the founder of the Vertex Protocol Dex, users who buy these tokens are either misleading by the name or simply fall in fraud.

"to be shaped on the basis of the fact that they sound like an extensive project but only take advantage of a news cycle is a sign of the ongoing immature digital assets. Everyone who buys them either makes a mistake with a protocol that makes something completely different, or it simply falls for intentional fraud."

fraud like the notorious Squid Game Token are the three-best, but the newer examples of AI-centered tokens that try to capitalize on AI from the recent increase in interest. These problems are still exacerbated by buying new tokens immediately, as the notorious Witzbold Avraham Eisenberg demonstrated.

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