(Kitco News) – As anyone who has dabbled in the cryptocurrency market for any length of time can attest, learning to identify and navigate around scams is a necessary skill to develop in this fast-moving industry where investors are always seeking the next 100x token.
One of the most popular methods of trying to sucker unexpecting crypto investors is pumping the launch of a new token connected with a large company like Google or Facebook and trying to catch the FOMO (Fear of mission out) that ensues.
The most recent example currently making the rounds on social media and YouTube is one promoting the launch of Amazon Tokens, where malicious advertisements that imitate legitimate news sites post breaking stories about the world’s largest online retailer launching its own cryptocurrency.
This is especially pertinent to the Kito Community as these false advertisements have been appearing in the comments section of Kitco NEWS videos on YouTube.
The fake stories rely on people’s trust in the Amazon brand and play on their desire to get in on the ground floor of the next big token before the bulk of investors arrive. Many recall reading stories about high-flying tokens during the ICO craze of 2017-2018 and get excited about the prospect of overnight wealth.
Unfortunately, the…
