Binance CEO Richard Teng Warns of Fake Token Payment Scams
- —Teng: a token's name and logo are easy to fake, its legitimacy is not
- —Users should verify network and contract address before accepting payments
- —Warning comes as crypto payment scams grow more sophisticated
Why it matters: Rising counterfeit tokens increase losses in P2P and OTC payments, making contract verification essential before any transfer.
Source: Cryptonews.net