Scam Token
Also known as: Fake Token, Fraudulent Crypto, Rug Token
A fraudulent or deceptive cryptocurrency created to trick investors into losing funds.
A scam token is a fraudulent digital asset designed with malicious intent to deceive investors, often through fake promises, pump-and-dump schemes, or rug pulls. These tokens typically have misleading names, unaudited smart contracts, or deceptive marketing. Some scam tokens include backdoors allowing creators to mint infinite tokens, block transfers, or remove liquidity. They’re commonly found on decentralized exchanges (DEXs) with minimal oversight. Due diligence, audits, and community vetting are essential for identifying and avoiding scam tokens, especially during token launches or airdrops.