CZ receives fake ‘Grok’ coins amid new wave of Elon Musk scam tokens

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Coin Telegraph 15h ago

CZ receives fake ‘Grok’ coins amid new wave of Elon Musk scam tokens - Coin Telegraph

Quick Summary:

Related: Bitcoin up 33% since 2024 halving as institutions disrupt cycleFake tokens related to the Grok token first emerged in 2023 when a scammer deployed an ERC-20 Grok token on Ethereum, which led to an over 90% drop after the deployer sold 0.5% of the total supply, according to blockchain data visualization platform, Bubblemaps.

A wallet linked to former Binance CEO Changpeng “CZ” Zhao received 90 million fake Grok (GROK) tokens on April 21, according to blockchain security firm PeckShield.

Related: Bitcoin rally above $100K may follow US Treasury buybacks — Arthur HayesElon Musk-related scams and fake coins see a resurgenceElon Musk-related scams and fake tokens are seeing a resurgence as scammers continue vying for investors’ crypto holdings.