Beware of Celebrity Scam

A simple solution for scammers is to issue tokens in the name of any well-known platform or person, ie a Celebrity or a well known Brand. I got 3 taunts in current affairs of scam.

Direct Celebrity Tokens

Celebrity token scam has hit the chain so much that, now Solana is opposing tokens related to celebrities. There might be many reasons to believe, and common reason is almost all are scam, ( I will also include those, which are challanged in court by some investors, including fake investors to milk celebrity. There is hardly a nice way to get investors back their investment.

Source: Solana Post

Celebrity Account Hacks

Check the information thoroughly

Investors should first wait for the announcement on the website or official account of the said person or platform. To avoid misinformation due to problems like hacking, check more than one social media account of the person or platform. For example recently French Soccer star Mabappe's X account was hacked, and released a scam tokens, scamming his fans.

Source: Crypto.com Post

Fake Promotion Brand

Keep away Your Investment Budget

Do not keep any capital to invest in tokens issued in the names of such people/ platforms, which haven't announced any news about issuing token. For example recently some scammers issued a token in the name of hack tracker Cretik Alert, while CretiKAlert has no token release plans.

Source: CretiK post