Fraudsters create META cryptocurrencies in mass, hinting at a link to Meta (formerly Facebook)

Fraudsters decided to take advantage of the renaming of Facebook into Meta, who began to massively create cryptocurrencies with the abbreviation META.

According to The Crypto Basic, since October 28, 2021, when Facebook officially changed its name, cybercriminals have created more than a hundred tokens, the names or abbreviations of which contain the word META. For example, Meta Coin.

In this rather straightforward way, scammers want to attract as many users as possible to their fake projects. At the same time, they indicate huge reserves of coins, up to several trillion. In this regard, the initial price of tokens turns out to be very low, but if they rise in price even to 10 cents, then the investor will become very rich.

For example, the already mentioned Meta Coin cryptocurrency costs about $ 0.000000035, i.e. for $ 35 you can buy 1 billion coins. If the price rises to 10 cents, then $ 35 will turn into $ 100 million. Naturally, the token will never rise in price even to 1 cent. As soon as the authors of the project collect the required amount, they will immediately disappear, leaving the investors with nothing. You don't have to go far for an example, let's just remember the history of the token SQUID.

As for the fake META cryptocurrencies, they are built on the Binance Smart Chain blockchain. However, anyone can create such a cryptocurrency, i.e. The presence of the Binance exchange in the list of partners does not mean anything. Scrolling through the white papers of counterfeit digital currencies too, it is difficult to find signs of fraud.

But there is one way to understand that META cryptocurrencies are not related to Meta. The thing is that Meta does not have its own digital currency.

A source: The Crypto Basic