Scammers made tens of thousands of dollars on "bitcoin pizza day"
Scammers earned tens of thousands of dollars on "bitcoin pizza day"
Attackers took advantage of the interest of market participants in meme cryptocurrencies
Fraudsters earned tens of thousands of dollars on "bitcoin pizza day" by taking advantage of market participants' interest in meme-based cryptocurrencies. The creators of several holiday-themed tokens absconded with the assets of gullible investors.
On May 22, the cryptocurrency community celebrated the 13th anniversary of the first purchase of bitcoins. It happened in 2010 when computer developer Laszlo Heinitz bought two mushroom pizzas for 10 thousand BTC.
According to Dextools, the BTCPizza, BPizza, PizzaDay, and EthPizza tokens, which were created during the last week, reached about $150,000 at their peak.
What is PEPE cryptocurrency and how it set the trend for new memcoins
The creators of BPizza, after the token reached a capitalization of $100k, set a 100% sales tax on the coins so that investors could not sell them. Issuer EthPizza disabled token sales when the asset's capitalization reached nearly $40k.
BTCPizza is now labeled as a Honeypot - where fraudsters prescribe in the token's smart contract the ability to withdraw coins only to certain wallets. PizzaDay plummeted in value to zero after a spike in value followed by a rapid series of sales.
Investors' desire to buy tokens with no fundamental value followed the rapid and significant rise in the market capitalization of the meme cryptocurrency Pepe in just a few weeks. Investors are hoping to get lucky, buying tokens that could collapse in value at any moment.
- Digital Silver. What will happen to the price of Litecoin after the rapid growth?
- Justin Sun will "revitalize" Huobi and Poloniex exchanges with memcoins
- MetaMask developers responded to cryptocurrency wallet tax collection
- Tornado Cash hacker offered to cancel his attack
- What is LayerZero, a $3 billion Airdrop candidate project
- FTT token jumped 17% on news of FTX relaunch work
- Hong Kong will open cryptocurrency retailing. How the market will react