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Twitter alternative Damus Has At Least 15 Fake Tokens, Reveals New Report

Twitter alternative Damus Has At Least 15 Fake Tokens, Reveals New Report

Key Takeaways:

Scam tokens posing as being affiliated with Damus have been released in substantial numbers.

The bogus tokens were released on BNB Chain and Ethereum.

The popularity of the decentralised social application Damus has led to the emergence of certain phoney contracts that pretend to be Damus tokens. PeckShield issued a warning today stating that 15 newly produced Damus fake tokens had appeared on Ethereum and BNBChain Contracts. Additionally, Nostr false tokens had also been observed on Ethereum.

The blockchain analysis and security platform issued a warning to users not to fall victim to it. One of the tokens was identified by PeckShield as a honeypot. The fact that seven of them had a high selling tax (100%) and the remaining ones had already lost 99% of their respective values was also noted.

Damus, a brand-new decentralised social media platform, recently made it into the top ten list of free social media apps in the American iOS app store.

#PeckShieldAlert #Damus #Scam PeckShield has detected 15 $Damus have been newly created on #Ethereum & $BNBChain 1 of these $Damus appears to be #honeypot , 7 of them have a high selling tax (100%) and 7 of them have already dropped over -99% @damusapp Do *NOT* fall prey to it — PeckShieldAlert (@PeckShieldAlert) February 6, 2023

Prior to PeckShield, Damus itself has cautioned of the same problem. The decentralised network made it very clear that it does not have a token and will never have one future as well. 

Any person who might have purchased a $DAMUS token has undoubtedly fallen victim to fraud. Although it’s unknown at the time how widespread the damage has been, some people have fallen for the hoaxes. shares this Contents always with License.

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