Scammers exploited the female version of the entrepreneur by creating 16 honeypots in the last 24 hours
PeckShield issued a warning as the crypto space filled with Elona tokens linked to the appearance of a female version of Time’s Person of the Year and Tesla CEO Elon Musk. Originally, the photo of a female version of Elon Musk was posted by an anonymous user on Twitter and reposted by Maye Musk-Elon’s mother.
After renaming the account to Elona Musk, over 30 tokens named after the female Musk appeared on various networks. The blockchain security firm PeckShield marked as honeypots with half of the created tokens.
Scammers used the growing popularity of the meme to create contracts with various backdoors that allowed the original developer to withdraw funds from users’ wallets or otherwise exploit them.
The security firm also warned Musk himself since the entrepreneur previously shared or mentioned various memetokens that were not scams but still had a small community around them and unpopular developers.
The scammers have even incorporated other trendy tokens and coins into the names of their smart contracts: ELONASHIBA, ELONANFT, and ELONADOG. Previously, PeckShield shared numerous cryptocurrency warnings related to projects like Shiba Inu and Dogecoin.
Scammers use popular tokens’ names to promote, often, scammy projects. The most common way to steal users’ funds is using a rugpull strategy: redistributing (selling) coins or tokens to users, which increases the value of an asset on the market, and then selling the pre-mine or funds transferred to a reserve wallet owned by the developer.
