Token fraud occurs when fraudsters utilize counterfeit coins with names similar to genuine ones, such as USDT, ETH, BTC, BNB, and others, in an attempt to deceive people. They often claim to have digital currencies for sale at extremely appealing low prices, luring potential victims into making hasty transfers.
To protect oneself from falling victim to such scams, it is crucial to meticulously verify the token contract and associated details before proceeding with any transfers. The recommended approach involves verifying the authenticity of a token by cross-referencing its contract address. An informative article on this subject can be found at the following link: https://bitpie.zendesk.com/hc/zh-cn/articles/4408106037519
By taking these precautions, individuals can avoid falling for fraudulent schemes and should avoid readily trusting third parties with their assets.