The token World Cup Inu est suspected of fraud shortly after its launch. While the token had won more than 1000% over the past few weeks, it is now starting to run out of steam with a drop in the last 24 hours. Let’s find out together if it’s a scam or false accusations.
Charges of fraud
In a statement in September, World Cup Inu confirmed its official launch on the Ethereum network as an ERC-20 token. The founders claimed meteoric growth in the early days. The token, aimed at football and crypto loverswas adopted by 800 crypto-investors in 48 hours.
The Twitter User Fat man which has more than 100,000 followers on the social network, discovered disturbing facts about the token. Indeed, he discovered that the deployer of the World Cup Inu token charges a 4% swap fee on decentralized transactions. This therefore aroused suspicion of a possible scam.
With growing enthusiasm, the possibility of scams has also increased. FatMan from the Terra Research Forum assured that the WCI deployer has already collected more than 300,000 dollars of the WCI. He commented: “There are also contract functions to unilaterally increase the tax on swaps and halt trades. Be careful, it is better to stay away.”
Screenshot taken by user FatMan about deployer withdrawals.
The token increased by 1000% over the past two weeks, but appears to be losing value over the past 24 hours. On Uniswap, the previous day’s trading volume approached $3 million.
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A contract with Ronaldinho “delighted”
The former Brazilian football superstar partnered with the Token and said:
“I am thrilled to be part of the World Cup Inu family. $WCI is changing the defi space with their work and functionality. The project excites me a lot. ! I’m going to offer them 3 jerseys, vouching for Brazil’s victory at the #WorldCup. Do not hesitate to go see them.”
I am delighted to be part of the World Cup Inu family. $WCI is changing the defi space by their work and utilities . Really excited for this project! I will be giving away 3 jerseys to them , vouching for Brazil to win the #WorldCup. Make sure you check them out 🤙 pic.twitter.com/rvF9mNCqFs
— Ronaldinho (@10Ronaldinho) October 19, 2022
The Reddit community was quick to react and called the awkward and uncomfortable partnership. Other netizens have bluntly referred to WCI as “shitcoin” pointing the finger at celebrities who promote pump and dump.
As a reminder, the winner of the 2002 World Cup recently had problems with the law. Indeed, he had been imprisoned in 2020 in Paraguay for possession of false passports. After 5 months of incarceration, he was released with a fine of 90,000 dollars.
Only 1 year after these facts, it is again summoned to court. However, this time it is in his homeland. The Brazilian footballer had to settle his debt with his ex-fiancée before December 1, 2021. Ronaldinho took the steps and was not prosecuted.
The fever of the 2022 World Cup is gradually invading the minds of football fans. Despite calls for a boycott following the Qatari construction sites which would have killed more than 6,000 people, the craze remains very present.
The official sponsor of the event is none other than the online cryptocurrency trading platform Crypto.com. This partnership should familiarize even more people with digital assets since the World Cup is watched by 3 billion different spectators around the world.
Another link with cryptos, FIFA has entered into a partnership with Roblox. The two companies have teamed up to bring a metaverse experience to football fans. In addition to being able to play different games, users will be able to buy virtual stickers, win jerseys et interact with mascots World Cup officials. And finally, fans will be able to watch matches with their friends in the Metaverse.
⚽🎮🌍 FIFA and @Roblox today announced a new ground-breaking partnership that will offer the Roblox community, as well football fans around the world, free-to-play access to FIFA World – a virtual environment that celebrates the power of football.
— FIFA.com (@FIFAcom) October 12, 2022
A new scam in this “Hacktober”
BeInCrypto recently unveiled a report from the Atlas VPN team. It is discovered that blockchain hackers have stole $478 million worth of cryptocurrencies in the third quarter of 2022. And with 11 attacks, the Ethereum ecosystem suffered the most considerable losses, totaling 348 million dollars.
Scams in the crypto ecosystem are very common. Gaming tokens or Meme coin based on Pump and Dump always attract a lot of investors. For example, in November 2021, fans of the famous South Korean series Squid Game were scammed, victims of a “rug pull”. Play to Earn promised great rewards for investors, but it was impossible for them to withdraw the winnings. Moreover, the token was absolutely not affiliated with the streaming giant Netflix…
In Singapore, investors have filed several complaints against the executives of the crypto game Neko Inu. Because of this scam, players reportedly lost over $100,000. Again, the token was based on the Ponzi scheme.
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