In recent actions involving the LayerZero project, a wallet entitled “LayerZero: Deployer” gained an enormous 1 billion $ZRO tokens on July 9th. The influx of tokens caused conjecture regarding the forthcoming LayerZero airdrop. Nonetheless, there are possible scams involving the $ZRO token, investors and enthusiasts must remain cautious and trust solely in the LayerZero team‘s official announcements.
Token Deployment and Transfer to Other Wallets
Following the token deployment, the official “LayerZero: Deployer” wallet initiated transactions by sending $ZRO tokens to various other wallets, including popular exchanges like Binance, MEXC, and Alameda Research. This activity attracted attention and led to the distribution of $ZRO tokens to multiple recipients.
Read more: LayerZero Airdrop Guide (2023): Step by Step To Get Free $ZRO
Unveiling the Real Deployer
Upon closer examination, it was discovered that the true deployer of the $ZRO token is a different wallet with the address: 0x395c0f1396f660936d1b832d2ccdd18e37818d5c.
This wallet executed its first transaction by receiving 102 $WETH from another wallet via the decentralized exchange aggregator 1inch. Subsequently, it proceeded to deploy the $ZRO token.
The $ZRO Token Scam
Alarming evidence has surfaced suggesting that the $ZRO token, along with 60+ other variations, is a scam. By referring to @dexscreener, it becomes apparent that this particular $ZRO token operates as a honeypot. Traders who purchase this token find themselves unable to sell it back, leading to potential financial losses. It is important to note that we will not provide a direct link to this token to prevent inadvertently promoting the scam.
The Secret of the Scam
The scammer behind the fraudulent $ZRO token has devised a cunning scheme. By exploiting the “_tranfser” function, the scammer can replace their own address with that of the official LayerZero address. This tactic creates an illusion of authenticity, making it appear as though the legitimate LayerZero team is distributing the $ZRO tokens. The intent is to deceive unsuspecting investors into believing they are receiving genuine tokens.
Read more: How to Get Goerli ETH Testnet Tokens from Goerli Faucets 2023
Conclusion
While the scammer behind the fraudulent $ZRO token attempted to execute an elaborate scheme, it is crucial for individuals to exercise caution and rely solely on official announcements from the LayerZero project. Engaging in diligent research, avoiding suspicious tokens, and staying updated on authentic sources of information are essential steps to safeguarding investments and protecting against scams. Be vigilant and remember that the LayerZero team will communicate any airdrops or token distributions through their official channels.
