Scam Alert: FTX 2.0 Token Spread Without Exchange’s Authorization

• A token called FTX 2.0 (FTX2.0) is being spread around from an actual FTX address.
• Transactions involving the token involve the FTX Token’s Treasury, FTX Cold Storage, Alameda Research, Binance deposit addresses, a KuCoin deposit address, and a different FTX deposit address.
• PeckShieldAlert warns that the token is being spread by scammers “pretending to be the FTX exchange to add liquidity”.

Alleged scammers have been sending out FTX 2.0 tokens from FTX wallets since January 20, 2023 at 4:19 pm. According to Arkham Intelligence and Etherscan data, the token was deployed on December 14, 2022 and has only seen 62 transfers so far. These transfers involve the FTX Token’s Treasury, FTX Cold Storage, Alameda Research, Binance deposit addresses, a KuCoin deposit address, and a different FTX deposit address.

The transactions started when one billion tokens were minted onto one FTX address about 20 hours before press time on January 19. Very little is known about this token, other than that it is being spread among cryptocurrency users from an actual FTX address, one transaction moving 22 million to a wallet controlled by Justin Sun — a co-founder of Ethereum (ETH) and Tron (TRX).

In a Jan. 20 twitter thread, crypto cybersecurity firm PeckShieldAlert warns that the token is being spread by scammers “pretending to be the FTX exchange to add liquidity” and airdropping to Justin Sun, Kucoin, and Binance. This activity, according to the firm, is meant to trick “people into believing that FTX will be reopening soon.” What’s more, the firm notes that the token was created without FTX’s authorization and is being spread without their knowledge.

The FTX exchange, which shut down in October 2020 after filing for bankruptcy, is not associated with the FTX 2.0 token. Nonetheless, this has not stopped the alleged scammers from trying to trick people into believing that FTX will be reopening soon. For now, it is important to be aware of this activity and remain vigilant in order to protect yourself from potential scams.

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