.lookonchain Scammers are using names of famous companies to lure investors into buying fake memecoins
@lookonchain warned the crypto community that these operations may look as if it is famous wallets that are acquiring meme crypto, not scammers and, therefore, warned crypto users to beware and not do the same, following the example of those addresses.
What is really happening is that scammers make it look like big crypto companies are buying meme coins , hoping that average investors will fall for it and will also begin to buy these fake meme cryptocurrencies.The source shows that scammers create fake WETH, then they pretend to buy it from a big company's wallet — the tweet mentioned DWF Labs in particular — and make it look like DFW Labs is providing liquidity for a meme coin .
Users see these operations on wallet trackers and decide to jump in as well, thinking that if DWF is supporting this token in a DeFi pool, then it is certainly"worth looking into." This scheme with a fake DWF wallet and a fake MOME token is show on screenshots shared by @lookonchain.
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