PancakeSwap Warns Community of a Suspicious ‘High-Risk’ Token

PancakeSwap, the popular automated market maker (AMM) operating on Binance Smart Chain (BSC), has recently provided information about a malicious crypto asset to its community. The company took to its official channel on Twitter to disclose this news. It mentioned that a crypto asset named “1” has been showing some suspicious characteristics.

PancakeSwap Raises Concerns about a Suspicious Crypto Project

The platform shared a lengthy Twitter post in this respect. It addressed the community and mentioned that the platform provides a lot of attention to the safety of its consumers. As per it, the company’s utmost priority is the clients linked to its platform. The firm added that it intends to make the community well-informed about the likely malicious things so that they could avoid any mishaps.

In addition to this, the company disclosed that the consumers should be aware of the digital token project called “1”. According to the platform, the respective crypto coin has been categorized as a high-risk asset. Apart from that, the firm also revealed that this is a thing to be concerned about, especially in the case of the consumers of the platform.

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Therefore, it advised the clients not to trade the respective token. Along with this, it stressed being careful even while trading the rest of the crypto assets. Moreover, the company brought to the front that they should exercise extreme caution in the case of their trading operations. Furthermore, the clients are also advised by the company that it has additionally notified them about some other such assets for their potential maliciousness.

The Platform Also Cautions about Several Other Malicious Projects

The platform asserted that the respective assets may be developing fake trading volumes. Hence, the customers are told to carefully deal with them. The platform moved on to say that its team has discovered abnormal operations that have raised apprehensions regarding their trading volume’s legitimacy.

In line with the observations made by the platform, specified that the initial capital deployed for operating the “1” project was considerably little. Additionally, the team found that $40,000 block trades have been continuously purchasing and trading again and again. These points raise apprehensions about the project.