PeckShieldAlert analysts recorded numerous meme-token transfers to Tron founder Justin Sun’s wallet.
According to Etherscan, he was gifted several different coins, including WEED, METH, and NGMI.
Security experts also warned that amid the hype, a group of attackers created a fake FOUR token to pretend to be the founder of Tron.
“Fraudsters impersonate Justin Sun by buying millions of fake FOUR and transferring them to [cryptocurrency exchange] Poloniex. Don’t become a victim,” PeckShieldAlert explained.
According to The Block Research analyst Stephen Zheng, this is a fairly common trick. Attackers “warm up” gullible investors by creating the false impression that the meme-coin market is about to take off.
“Often fraudsters and promoters send their tokens to popular influencer addresses to trick people into buying their coins,” Zheng added.
Earlier, Justin Sun stated his intention to “actively trade” mem-tokens. He stated that he would personally take the losses from operations, and the profits would be donated to charity.