PeckShieldAlert analysts have recorded numerous transfers of meme tokens to the wallet of Tron founder Justin Sun.
#PeckShieldAlert #JustinSun continues to receive multiple Shitcoins following his tweets.
We have noticed that a scammer gang created a counterfeit $FOUR 4 days ago & used 0xac82…2a9 to pretend to be #JustinSun.
The scammers pretend to be #JustinSunbuying tons of fake $FOUR… pic.twitter.com/L4axTLR6as— PeckShieldAlert (@PeckShieldAlert) May 11, 2023
According to Etherscan, he has been gifted several different coins, including WEED, METH, and NGMI.
Security experts also warned that amid the hype, a group of attackers created a fake FOUR token to pretend to be the founder of Tron.
“Scammers are impersonating Justin Sun, buying tons of fake FOUR and transferring them to [криптобиржу] Poloniex. Don’t become a victim,” PeckShieldAlert explained.
According to The Block Research analyst Stephen Zheng, this is a fairly common ploy. The attackers “warm up” gullible investors by creating the false impression that the memcoin market is about to take off.
“Often scammers and promoters send their tokens to popular influencer addresses to trick people into buying their coins,” Zheng added.
Earlier, Justin Sun announced his intention to “actively trade” meme tokens. He stated that he would personally bear the losses from the operations, and direct the resulting profit to charity.
Recall that in April, the PEPE token grew dozens of times in April, turning some coin holders into millionaires.
In May, an unknown person paid a $120,000 commission to buy $156,000 worth of the FOUR meme-cryptocurrency. The investor managed to realize a profit of $240,000, according to community estimates.
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