Resecurity warned about fraudulent BRICS tokens

The researchers noted a growing trend in the issuance of fake tokens, the creators of which are hiding behind well-known companies. The attackers pose as major brands, government agencies and even call their tokens national fiat currencies. Many scammers pose as oil corporations and regulators, especially often referring to the Monetary Authority of Singapore (MAS) and the central banks of the Middle East.

In particular, Resecurity mentioned a fake token called BRICS. The scammers decided to take advantage of the hype around the BRICS interstate association, which includes nine states: Russia, Brazil, India, China, South Africa, the United Arab Emirates, Iran, Egypt and Ethiopia. The BRICS Union, founded in 2006, aims to strengthen cooperation between its members on economic, political and social issues. Using the international image of the organization, the scammers have already conducted an initial coin offering (ICO), Resecurity claims.

The researchers noted that platforms like Lobstr.co which allow you to create tokens on the Stellar network and do not impose strict requirements on users.

Solidus Labs confirmed the conclusions of Resecurity, noting that the creators of fake tokens have already deceived more than 2 million investors, surpassing the number of affected cryptocurrency platforms FTX, Celsius and Voyager. Fraud often occurs in the decentralized finance (DeFi) sector, when attackers make changes to smart contracts to deceive investors, or when developers leave a project, disappearing with investors' funds.

Recently, the management of the Binance crypto exchange warned that scammers pose as top managers of the site, offering cryptocurrency projects a token listing for a fee. At the end of last year, the Securities Commission of the Canadian province of Alberta (ASC) issued a warning about cryptocurrency scammers posing as employees of the department.

Source: https://bits.media/resecurity-predupredila-o-moshennicheskikh-tokenakh-brics/