The development team of Floki (CRYPTO:FLOKI), a prominent meme coin and competitor to Shiba Inu, has alerted its community about a surge in scam attempts targeting investors.
Scammers are circulating fake FLOKI tokens on platforms like Ethereum-based blockchain, Base, and Solana, aiming to deceive unsuspecting buyers into purchasing worthless tokens.
Only tokens traded on Binance Coin (CRYPTO:BNB) and Ethereum (CRYPTO:ETH) networks with specific wallet addresses are genuine, according to Floki’s developers.
They stress the importance of verifying investment opportunities through official channels to prevent financial losses.
This warning reflects broader concerns in the meme coin market, where cryptocurrencies like Shiba Inu (CRYPTO:SHIB) and Dogecoin (CRYPTO:DOGE) also face similar scam challenges.
The cryptocurrency industry needs heightened vigilance to combat increasingly sophisticated fraudulent activities exploiting investor trust in digital assets.