Floki Inu Warns Users of Scam Tokens; Unveils New Developments Despite Security Threats
Summary:
The memecoin project, Floki Inu, warns its users about scams involving illegitimate tokens falsely linked to its brand on the Solana and Base blockchains. They emphasized the FLOKI token is only available on the BNB Smart Chain and Ethereum networks. Despite risks, the project continues to develop its ecosystem, even launching a FLOKI Name Service for decentralized domain registration. The project also plans to introduce regulated digital banking accounts using FLOKI tokens. However, the Hong Kong Securities and Futures Commission warned the public about 'Floki Staking Program' and 'TokenFi Staking Program', noting they don't have the authorization for public sale in Hong Kong.
The popular memecoin entity, Floki Inu, has cautioned its members and wider cryptocurrency community of prevailing scams involving counterfeit tokens purportedly affiliated with the brand. These imitation tokens, appearing on the Solana and Base networks, have been deceiving investors. Floki Inu's primary Twitter handle, @RealFlokiInu, utilized the platform to inform followers of these deceptive tokens. The group highlighted that the genuine FLOKI token circulates exclusively on the BNB Smart Chain (BNB) and Ethereum platforms. It identified Ethereum (ETH): 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e and BNB Smart Chain (BNB): 0xfb5b838b6cfeedc2873ab27866079ac55363d37e as the accurate contract codes for its tokens to aid users in scam avoidance.
The Floki Inu community was encouraged to solely rely on official resources for token information to avoid falling prey to fraudulent activities. In the midst of these safety risks, Floki Inu still strives to amplify its ecosystem's purpose and utility. A major advancement is the launch of the FLOKI Name Service on the BNB Chain mainnet, permitting users to enroll decentralized domain names with the .floki domain, consequently boosting the Floki Inu token operation within its ecosystem. The service integrates the SPACE ID structure, ensuring compatibility with various decentralized applications (DApps) such as well-known wallets and platforms like Trust Wallet and PancakeSwap.
Marking another significant advancement, Floki Inu has reached over 417,400 owners on the BNB Chain. To mark this achievement, Floki Inu has initiated a rewards program that lets holders claim a share of interest-based rewards.
In March, the dog-inspired memecoin revealed its plan for 2024, presenting several prospective features and utility-oriented projects. The strategy involves regulated digital banking accounts, allowing users to form and sponsor bank accounts using FLOKI tokens. The blueprint includes collaboration with a certified fintech business facilitating digital banking accounts with Swift payments and SEPA IBAN capabilities covering regions like Canada, Spain, Dominica, Australia, and the UAE.
In January, the Hong Kong Securities and Futures Commission issued a public warning regarding the "Floki Staking Program" and "TokenFi Staking Program". The SFC observed that although these products offer staking services with predicted annual returns of between 30% and over 100%, they don't have the required authorization for public distribution in Hong Kong.
Published At
6/30/2024 11:06:21 AM
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