The Floki Inu memecoin project has warned its users and the wider cryptocurrency community about ongoing scams involving unauthorized tokens that are falsely associated with its brand. Fraudulent tokens have appeared on the Solana and Base blockchains, misleading investors.
The official Floki Inu X account took to social media to warn its followers about the scam tokens. It emphasized that the legitimate Floki Inu (FLOKI) tokens can only be used on the BNB Smart Chain and the Ethereum network.
Floki has listed the Ethereum address “0xcf0c122c6b73ff809c693db761e7baebe62b6a2e” and the BNB Smart Chain address “0xfb5b838b6cfeedc2873ab27866079ac55363d37e” as the correct contract address for the token to help users avoid scams.
Floki Inu urged the community to obtain certain information only from official sources to avoid becoming victims of such fraudulent schemes.
The Ecosystem Growth of Floki Inu
Despite these security threats, Floki Inu continues to improve the functionality and usability of its ecosystem. A notable development is the introduction of the FLOKI name service on the BNB Chain mainnet.
This service allows users to register distributed domain names with the .floki extension.
The service leverages the Space ID architecture to allow interoperability with numerous decentralized applications (DApps), including popular wallets and exchanges such as Trust Wallet and PancakeSwap.
Floki Inu has surpassed 417,400 BNB chain holders. To celebrate, Floki Inu has launched a rewards program where holders can claim a percentage of interest rewards.
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In March, dog-themed Mimecoin unveiled its 2024 roadmap, revealing a number of upcoming features and utility-focused initiatives. The plan includes a regulated digital banking account that will allow users to create and fund bank accounts using FLOKI tokens.
The roadmap includes partnerships with licensed fintech companies to build digital bank accounts with Swift payments and SEPA IBAN capabilities, and expansion into Canada, Spain, Dominica, Australia and the United Arab Emirates.
In January, the Hong Kong Securities and Futures Commission (SFC) issued a public warning about the “Floki Staking Program” and the “TokenFi Staking Program”.
The SFC noted that these products offer staking services and promise annual returns ranging from 30% to more than 100%. Despite this, there is no public sales license in Hong Kong.
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