Solana

FLOKI

Base

SPACE ID

The Floki Inu memecoin project has warned users and the broader cryptocurrency community about ongoing scams involving unauthorized tokens falsely associated with its brand. The fraudulent tokens have surfaced on the Solana and Base blockchains, misleading investors.
The official X account of Floki Inu took to social media to alert its followers about the scam tokens. It highlighted that the legitimate Floki Inu (FLOKI) token is exclusively available on the BNB Smart Chain and Ethereum networks. 
Floki listed the Ethereum address “0xcf0c122c6b73ff809c693db761e7baebe62b6a2e” and&nbsp;BNB Smart Chain address “0xfb5b838b6cfeedc2873ab27866079ac55363d37e” as&nbsp;the correct contract addresses for its tokens to help users avoid scams.
Floki Inu urged its community to obtain token information only from official sources to prevent falling victim to these fraudulent schemes. 
<h3 data-ct-non-breakable="true" id="floki-inu-s-ecosystem-growth">Floki Inu’s ecosystem growth</h3>
Despite these security threats, Floki Inu continues to enhance its ecosystem’s functionality and utility. A notable development is the <a href="https://cointelegraph.com/press-releases/floki-unveils-new-developments-and-strategic-marketing-initiatives">introduction of the FLOKI Name Service</a> on the BNB Chain mainnet. 
This service allows users to register decentralized domain names with the .floki extension.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/2b5783bf-95a9-45ab-8720-00a04630bf2e.png" alt="" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/RealFlokiInu/status/1807133238055628806" target="_blank" rel="noopener nofollow">Floki Inu</a>
 </figcaption>
</figure>
The service leverages the Space ID architecture to allow interoperability with numerous decentralized applications (DApps), including popular wallets and exchanges like Trust Wallet and PancakeSwap.
Floki Inu has&nbsp;<a href="https://www.binance.com/en/square/post/9029757151130" target="_blank" rel="noopener nofollow">surpassed</a>&nbsp;417,400 holders on the BNB Chain. To celebrate, Floki Inu launched a rewards program, allowing holders to claim a percentage of interest rewards. 
Related:&nbsp;<a href="https://cointelegraph.com/search?query=Floki%2520Inu#:~:text=VanEck%20subsidiary%E2%80%99s%20memecoin%20index%20up%20137%25%20year%2Dto%2Ddate">VanEck subsidiary’s memecoin index up 137% year-to-date</a>
In March, the dog-themed memecoin unveiled its <a href="https://cointelegraph.com/news/floki-inu-roadmap-reveals-plans-for-regulated-bank-accounts">roadmap for 2024</a>, revealing several upcoming features and utility-focused initiatives. The plans include regulated digital banking accounts, enabling users to create and fund bank accounts using FLOKI tokens. 
The roadmap includes a partnership with a licensed fintech firm that will enable digital bank accounts with Swift payments and SEPA IBAN capabilities, expanding across Canada, Spain, Dominica, Australia and the United Arab Emirates.
In January, the Hong Kong Securities and Futures Commission (SFC)&nbsp;<a href="https://cointelegraph.com/news/sfc-flags-floki-protocol-staking-programs-as-unauthorized">cautioned the public</a> about the “Floki Staking Program” and “TokenFi Staking Program.” 
The SFC noted that these products provide staking services and promise annualized returns from 30% to over 100%. Despite this, they lack authorization for public sale in Hong Kong.
Magazine: <a href="https://cointelegraph.com/magazine/ethereum-restaking-blockchain-dangerous/">Ethereum restaking: Blockchain innovation or dangerous house of cards?</a>

Floki Inu warns of fake tokens on Solana and Base blockchains

Table of Contents

Cointelegraph

Other articles published on Jun 30, 2024

Meme Coins Experience Significant Decline

Bitcoin at $100,000: Expert’s Wild Bet Before US Elections

The Active Bitcoin Address Rate Drops to a 13-Year Low!

BlockDAG’s DAG Technology Catalyzes 30,000x ROI Potential; Insights into TRX vs SHIB Conflict & S...

Bitcoin Analyst Revises Price Target

Arkham Calculates Vitalik Buterin’s Latest Net Worth

Join our free newsletter for daily crypto updates!