The top three cryptocurrencies we identified as potential scams are the Coinmarketcap token (CMC), AKELA, and Yescoin.
Before emerging as a scam, a Coinmarketcap token presale promised users a 10% bonus. Their digital wallets were exposed to a crypto drainer when they tried to participate. On August 14, Coinmarketcap’s official X account posted a warning:
SCAM ALERT: CoinMarketCap does NOT have a Token/Coin. If you see a promotion for CMC-Tokens, it is a Fake/Scam!
— CoinMarketCap (@CoinMarketCap) August 14, 2024
Victims of the scam could lose all of their funds in compromised crypto exchange wallets. The scheme was not linked with any existing entities or platforms.
The token presale was promoted on cmc-token.com and cmctoken.net, but it could have emerged elsewhere.
The scheme runs as a cryptocurrency drainer. Connecting your wallet initiates a draining mechanism. Automated transactions ensue, transferring funds from victims’ wallets to cybercriminals’ wallets.
Akela active rug pull on Solana
Crypto Rug Muncher, a platform exposing scams, rug pulls, and other incidences of fraud in the crypto world warned about an active rug pull involving the Akela token. Crypto Rug Muncher posted that the scammers behind this rug pull were the same people behind the Pitbull and “Four Horsemen of Solana” rug pulls.
They warned users to stop interacting with Akela and withdraw all their funds from the Pitbull smart contract at once, if they haven’t already. They advised users to report the scam to X and local authorities and read other posts containing full lists of X scam accounts.
Is Yescoin a scam? Yes – and no
(Image source: X)
The Telegram mining app Yescoin enthralled crypto market players with its simple yet highly appealing promise: free coins in exchange for interacting with a bot. Users collect Yescoins and rake in the money once the coin launches on major exchanges.
There are two Yescoins: yellow and white. The yellow Yescoin bot launched first, setting the standard for what the coin represents. An imitation Yescoin appeared soon after it. The white Yescoin bot rode on the coattails of the yellow one, tainting the reputation of the legitimate bot.
Like many Telegram clicker games, Yescoin maintains a strong presence on X. It uses its popular account on the social medium to disperse rumors that the whole project is fake.
So there you have it: CMC, Akela, and Yescoin are scam or potential scam coins.
