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There is a new scam aimed at crypto exchanges, where scammers create Shiba Inu (SHIB) on other networks and pose it as an official version.

With its strong community and utility, the Shiba Inu (SHIB) token has continuously made waves in the crypto world. Sadly, some people are capitalizing on its sensationalism to pull underhand tricks.

A prominent figure of the Shiba Inu community and Shibarium Telegram Group Admin has recently taken to social media to forewarn crypto portfolio asset managers about a scam rising in popularity targeted at them and their users.

In a tweet on Thursday, well-known SHIB member Ragnar Shib warned about a new crypto scam targeting crypto exchanges. According to Ragnar, some bad actors created a version of Shiba Inu on the Fantom (FTM) blockchain, presenting it as an official rendition.

However, Ragnar declared that Shiba Inu and its ecosystems tokens, including SHIB, Bone, and Leash, are all based on the ERC20 network, the Ethereum blockchain, and no other. Consequently, Ragnar urged crypto exchange listing managers to be aware of the scam and to take appropriate measures to protect themselves and their users.

Although Ragnar pointed out that a Discord community claimed the SHIB token exists on the Binance Smart Chain (BSC) network, he reiterated that SHIB is only on the Ethereum blockchain, and every other chain claiming otherwise was a scam.

Notably, the fraudulent scheme is a classic example of a phishing scam common in the crypto space. Phishing involves sending messages that appear to be from a legitimate source but are designed to trick users into giving away their private keys or other sensitive information.

Recently, a scammer posing as Shytoshi Kusama, one of the lead developers of Shiba Inu, scammed community members by creating a fake Twitter account with a very similar handle to the official one.The scammer urged unsuspecting victims to register their wallets for private access to the beta launch of Shibarium and claimed that only those with SHIB, BONE, and LEASH would gain priority access. The tweet included a link to a fake Shibarium Beta Launch Registration Link, and those who connected their wallets through it lost all their virtual assets.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Shiba Inu Admin Warns of Fake SHIB Tokens on Other Chains - The Crypto Basic

A leading analyst is warning that crypto assets may face more downside during the current market correction.

Pseudonymous analyst and trader Bluntz tells his 222,800 Twitter followers that altcoins are trending downwards on the large time frames and could fall far more than what is currently being anticipated.

Citing the example of Polygon (MATIC), Bluntz says that the Ethereum (ETH) layer-2 scaling solution has just slipped below an ascending channel and is heading lower.

So many altcoins losing really high time frame structure now. MATIC, for instance, is breaking down from a 12-month bear flag and just had a solid close below a year long channel.

Personally, Im starting to think things are going quite a bit lower than many are anticipating.

According to the analyst and trader, MATIC could plummet by up to 54% from current levels.

[A drop to] $0.40 $0.50 more reasonable I think.

Polygon is trading at $0.869 at time of writing.

Turning to Ethereum, Bluntz says that the second-largest crypto asset will plunge soon after closing below a weeks-long ascending channel.

From his chart, it appears Bluntz is targeting Ethereum to fall to below $1,700. ETH is trading at $1,842 at time of writing.

Underside bear flag retest of ETH looks done, Im thinking the bottom falls out of this quite soon.

Next up is Binance Coin (BNB), the utility token of the Binance Smart Chain. Bluntz says that BNB has come under severe pressure when paired against Bitcoin, falling by over 35% since late last year.

Of all the majors BNB has got to have one of the most savage downtrends on its BTC pair, literally down only, not even remotely sideways like ETH/BTC has been.

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Top Analyst Updates Outlook on Polygon, Ethereum and Binance Coin, Says Altcoins To Plunge Lower Than Expected - The Daily Hodl

The emergence of cryptocurrencies has changed peoples perspectives toward wealth. While blockchain technology is coming up with new innovations every other day, the latest talk of the town is BRC-20. BRC-20, like Ethereums ERC-20 token standard, is a token standard that operates on the Binance Smart Chain (BSC). This new token standard boomed the crypto world with its high utility. It has swiftly become one of the most popular token standards on the Binance Smart Chain. Also, it has been utilized in a variety of decentralized finance (DeFi) projects. Here is a sneak peek into BRC-20s history, coins created on BRC 20, and future prospects of this ground breaking technology.

BRC-20s history is tied to the incredible rise of the Binance Smart Chain (BSC). Back in September 2020, Binance came up with a surprising innovation titled BRC-20, a faster, less expensive alternative to the Ethereum blockchain. Showering all its traits, BRC-20 immediately became popular among both developers and users, and it quickly became a hub for DeFi initiatives. Its popularity stems from its ease of usage, cheap costs, and compatibility with present Ethereum tools and infrastructure.The BRC-20 token standard was created using Ordinals and Inscriptions and was originally kept on the Bitcoin base chain. Hence, this token standard popped out from creating the Ordinals protocol, which in return allows users to store any file on the Bitcoin blockchain.

The Binance Smart Chain has become a hotspot for decentralized finance (DeFi) projects, with many of the developers creating tokens using the BRC 20 standard. The first BRC-20 coin that boomed the market was ORDI, which initially popped out as a meme but now it has a market cap of around $500 million. Some of the other popular coins created on BRC-20 are Ordi, Pepe, Pizza, Moon, and more. Since their launch, the value of these currencies has skyrocketed, and they continue to draw new investors and users.

The market of BRC-20 is rapidly expanding. A total of 14,709 different tokens made using the BRC-20 standard have already popped up in the crypto world and the number is getting stiffer. BRC-20 is turning out to be a new revolution with its tokens fast approaching a market cap of $1 billion.On top of that, the team behind BRC-20 is rapidly evolving, and they have promised to polish the features of BRC-20, which will make it easier for developers to craft tokens using BRC-20. We should anticipate seeing even more tokens and financial products employing BRC 20 as the DeFi space grows. Summing up, BRC-20 is likely to have a bright future, playing a significant role in the world of cryptocurrencies.

As weve seen, BRC-20 has enabled the development of an array of unique tokens that are attracting an increasing number of developers and investors. Looking ahead, it seems apparent that BRC-20 will become much more important in the upcoming years. Whether youre a developer, investor, or user, its the golden hour to be active in the world of blockchain and decentralized money. And, with BRC-20 at the helm, the possibilities are absolutely enormous.

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BRC-20: Know Everything About This New Development By Bitcoin - CoinGape

The recent launch of the Tradecurve presale has diverted investor attention away from meme coin tokens like Dogecoin (DOGE) and ApeCoin (APE). These alternative cryptocurrencies that were once the darling of the crypto community have lost their appeal in the wake of a new wave of excitement generated by the promising new investment opportunity.

This article explores the reasons behind the declining popularity of meme coins and the factors driving the growing interest in Tradecurves presale.

Dogecoins (DOGE) market experienced a significant drop in price, reaching $0.077, but Dogecoin (DOGE) later increased by 5.19% the next day. Dogecoin (DOGE) has a 24-hour trading volume of $345,154,234, up by 37.60%. However, Dogecoins (DOGE) market sentiment appears bearish, with the Fear & Greed Index showing a score of 27 (Fear).

Market sentiment around meme coins has certainly fallen off, but this wont stop Dogecoin (DOGE) from benefiting from Elon Musks recent announcement that Dogecoin (DOGE) will soon be supported officially by Twitter! However, Dogecoin (DOGE) does not offer any true value other than for peer-to-peer payments and tips, which is a far cry from the feature-dense experience that is Tradecurve (TCRV).

ApeCoin (APE) is a decentralised cryptocurrency that operates on the Binance Smart Chain (BSC) network. It was created as a meme-inspired token with the goal of creating a community-driven project that rewards long-term holders. ApeCoin aims to achieve this by implementing a 10% transaction fee on every buy and sell order, with 5% redistributed to holders and the other 5% burned, reducing the circulating supply over time.

In addition, ApeCoin (APE) has a unique stake and bake feature that incentivizes holders to stake their tokens. By staking APE, holders can earn additional tokens as rewards while also supporting the network and reducing the circulating supply.

Since its launch, ApeCoin (APE) has gained a significant following in the crypto community due to its strong community engagement and unique features. ApeCoin (APE) has also partnered with various organisations and platforms, further increasing its exposure and adoption. While ApeCoins (APE) meme-inspired origins may have initially drawn attention, its innovative features and dedicated community have helped solidify its position in the crypto space.

Tradecurve (TCRV) is a cutting-edge trading platform that offers a unique hybrid trading experience by combining the best aspects of centralised and decentralised exchanges. Tradecurve (TCRV) offers high leverage starting from 500:1, providing traders with significant opportunities to maximise their returns. Additionally, users can employ algorithms and AI to automate their trading activities and increase their profits.

With no need for fiat payments, users can connect their wallets and deposit cryptocurrencies to trade on Tradecurve. VIP account services are also available, providing exclusive deposit bonuses, level-up bonuses, and other perks. Tradecurve also includes the Metaverse Trading Academy, which offers comprehensive educational resources for traders of all levels.

Tradecurve prioritises user protection and offers negative balance protection to prevent traders from incurring losses beyond their account balance. Yield Farming and Liquidity Pools are also available, providing users with additional opportunities to earn passive income.

Tradecurves (TCRV) ecosystem includes a hybrid trading exchange that allows token holders to trade financial markets anonymously, with no KYC requirements. Additionally, users can subscribe to automated trading algorithms and AI trading systems with a proven track record to increase their profitability.

Tradecurves innovative features and user-friendly interface make it an attractive option for both experienced and novice traders looking to maximise their returns in the dynamic cryptocurrency market.

Twitter: https://twitter.com/TradecurveappTelegram: https://t.me/tradecurve_officialInstagram:https://www.instagram.com/tradecurveapp/Medium: https://medium.com/@tradecurve

To find out more about Tradecurve, please visit the Tradecurve site.

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Meme Coin Tokens Like Dogecoin (DOGE) and ApeCoin (APE ... - Blockzeit

Cease & Desist Order

NEWARKAttorney General Matthew J. Platkin and the Division of Consumer Affairs announced that the Bureau of Securities (the Bureau) issued a Cease and Desist Order to stop an investment scheme purportedly powered by artificial intelligence and endorsed by Elon Musk. The website for TruthGPT Coin has since been taken down. The Bureau issued the enforcement action in coordination with several states bringing actions against Horatiu Charlie Caragaceanu and his organizations, The Shark of Wall Street and Hedge4.ai (collectively, Respondents).

Caragaceanu describes The Shark of Wall Street and Hedge4.ai as artificial intelligence labs that act through machine learning programmers and ethical hackers. According to the Cease and Desist Order, Respondents are promoting TruthGPT Coin, a cryptocurrency that purportedly uses an artificial intelligence model called Elon Musk AI. This artificial intelligence model is purportedly able to analyze various cryptocurrencies, predict future digital asset prices, and differentiate profitable investments from scams. The Respondents are also touting the profitability of TruthGPT Coin even claiming that TruthGPT Coin will increase in value by as much as 1,000 times.

According to the Cease and Desist Order, the Respondents are misrepresenting Elon Musks endorsement of TruthGPT Coin, and they are manipulating animated avatars and images of Elon Musk to falsely demonstrate his endorsement. It is further alleged that their promotional media falsley shows the involvement of various other public figures. For example, as alleged,TruthGPT Coins website is misleadingly designed to create the illusion that Changpeng CZ Zhao (the founder and CEO of Binance), Vitalik Buterin (the founder of Ethereum), and Satoshi Nakamoto (the creator of Bitcoin) are part of the TruthGPT ecosystem even though they are not. The website even purports to incorporate a communications platform that permits users to allegedly interact with these and other public figures.

These bad actors are making it seem like using artificial intelligence is a sure-fire get rich quick scheme, said Attorney General Platkin. But they underplay the risks associated with investing and can potentially harm investors and their life savings.

According to the order, the Respondents have previously engaged in a series of initial coin offerings (ICOs), deploying the tokens on the Ethereum blockchain and Binance Smart Chain. They touted the profitability of the tokens through internet websites and social media, claiming an early offering was tied to a money making machine Artificial Intelligence Lab that had the potential to go 1000x. Not 100x. Not just 100x. Its 1000x. The Respondents also told investors they could stake certain tokens to earn even greater profitsas much as 2,000% per year.

Despite their representations, the tokens previously offered by the Respondents never significantly increased in price and the tokens never secured listings on major centralized cryptocurrency exchanges. The fair market value of each token is now $0, according to the order.

Scammers are recruiting investors with advertisements on social media that contain flashy graphics, use technical terminology, and promise significant profits coupled with little or no risk, said Cari Fais, Acting Director of the Division of Consumer Affairs. But as we tell investors, if something seems too good to be true, it most likely is.

TruthGPT Coin and the other investments named in the order have not been registered for sale in New Jersey, and Horatiu Charlie Caragaceanu, The Shark of Wall Street, and Hedge4.ai have not been registered as dealers or agents.

The Bureau continues to work diligently to safeguard New Jerseyans from fraud and deceit in online investment offerings and we urge investors to help protect themselves by looking past the flashy graphics and high return promises to approach new investment products with caution, said Acting Bureau Chief Amy G. Kopleton. Raising public awareness of crypto-related fraud and the risks associated with unregistered securities is a critical part of the Bureaus mission. An informed investor is the best protection against financial predators.

The Bureaus investigation was handled by Investigator Richard Pearsall.

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The Bureau is charged with protecting investors from investment fraud and regulating the securities industry in New Jersey. The Bureau encourages investors toCheck Before you Investby obtaining information, including the registration status and disciplinary history, of any financial professional doing business to or from New Jersey. Investors should contact the Bureau toll-free within New Jersey at 1-866-I-Invest (1-866-446-8378) or from outside New Jersey at (973) 504-3600, or by visiting the Bureaus website atwww.NJSecurities.gov. Investors can also contact the Bureau for assistance, or to raise issues or complaints about New Jersey-based financial professionals or investments.

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New Jersey Bureau of Securities Joins other States in Effort to Stop ... - New Jersey Attorney General