The rapidly increasing popularity of PancakeSwap – the decentralized exchange running on Binance Smart Chain – has caught the attention of bad actors. The project warned that a group of scammers is promoting fake airdrops trying to lure victims into claiming them through a fraudulent link.
Fake CAKE Airdrops
The popularity of the DEX employing the Binance Smart Chain has gone through the roof in the past several months. The fast and cheap transactions resulted in high utilization, which led to surpassing the entire Ethereum network in terms of daily transactions last week.
When something in the cryptocurrency industry booms, bad actors are generally close by. Using its official Twitter account, PancakeSwap’s team warned about scam emails in which a group of unknown perpetrators impersonated the DEX and promoted a fake airdrop.
“There’s an ongoing email scam campaign. Scammers are pretending to be PancakeSwap, promising a FAKE airdrop of 400 CAKE in order to steal people’s funds.” – reads the project’s warning.