Blockchain security firm Forta identified 32 dollar-denominated counterfeit tokens maintained between $0.99 and $1.005 through PancakeSwap Infinity pools whose swap hooks prevented outside wallets from selling them for genuine USDT. “Keeper” wallets repeatedly made small permitted round-trip trades to sustain the quotation, creating a gap between the value displayed in wallets and the amount ordinary holders could actually realize. The token rotation began on February 19 and continued through at least November 3, while one counterfeit USDC remained near its target for 80 days. More broadly, Forta found at least 151 lookalike assets, including 115 dollar copies, and 3,138,110 direct transfers; the estimated face value of counterfeit-dollar payments was about $22 million, but this does not establish confirmed losses or a victim count. Forta and Binance recommend checking the token contract, network, full contract address and whether its apparent value can actually be realized before completing a transaction.
Source: Read the original article
