Investors in the meme cryptocurrency PEPE need to exercise extreme caution. Recently, it was found that dishonest organisations are defrauding PEPE holders by manipulating Etherscan screenshots, among other dishonest means. This sneaky tactic aims to create the impression that the PEPE deployer is engaged in scam operations, leading to community misunderstanding and mistrust.
The post detailing the transaction was removed after the meme coin with the Twitter handle @serdegen0x supposedly acquired 10 Ethereum (ETH) during a presale. This deed exemplifies the fraudulent presale strategy, when con artists hype up a cryptocurrency to inflate its worth.
Unfortunately, because of its propensity to invest in riskier enterprises, the PEPE investor group has been singled out as an easy target. Unfortunately, this tendency has made them an easy target for con artists to prey upon.
Scammers can deceive inexperienced PEPE investors using a variety of misleading tactics in addition to altered screenshots. One such technique is the “rugpull” fraud, in which project creators give up after receiving a significant amount of funding, leaving investors stranded with worthless tokens. The “honeypot” fraud is a different technique that includes producing a token that investors may purchase but not sell.
Meme coins and the projects linked to them are probably frauds designed exclusively to take user cash without providing anything in return in markets like the one we are now experiencing. Even if a project is able to raise millions of dollars through presales or early offers, it will almost certainly employ one of the aforementioned strategies to make money without truly adhering to an initial strategy.
