Scammers in Venezuela steal goods from sellers using fake USDT
- —Fake USDT tokens mimic the Tether contract and appear as valid in wallets
- —At least one case of a seller being defrauded for more than $5,500 has been recorded
- —It is recommended to verify the Tether contract address or accept payment via Binance
- —The scheme works when settling in self-custody wallets at a store checkout
Why it matters: The rise of fake USDT undermines trust in P2P settlements in regions with high stablecoin adoption and increases risks for sellers.
Source: Bitcoin.com