PENGU Community Rocked by $66 Million Team Dump and Flood of Scammers
- In the last few weeks, the PENGU team transferred approximately 2.1 billion PENGU tokens (valued at about $66.6 million) to centralized exchanges
- PENGU has surged roughly 240% over the past month
- Scammers have ramped up phishing and dust‑token tricks
Over the last few weeks, the Pudgy Penguins (PENGU) team transferred approximately 2.1 billion PENGU tokens (valued at about $66.6 million) to centralized exchanges. Just today, on July 28, a 206.9 million-token transfer (approximately $8.9 million) took place.
PENGU has surged roughly 240% over the past month, driven by ETF-related hype, though analysts warn that this large-scale token movement by team insiders signals potential liquidation and price dumps.
Rise in phishing scams targeting PENGU community
However, more troubling is that in tandem with price movements, scammers have ramped up phishing and dust‑token tricks. To be more precise, small amounts of PENGU are sent to random wallets with vanity names that lead to fake domains mimicking the project, which results in unsuspecting users getting tricked into connecting wallets and signing malicious transactions.
Yesterday, Beau (head of secur…
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PENGU Community Rocked by $66 Million Team Dump and Flood of Scammers
- In the last few weeks, the PENGU team transferred approximately 2.1 billion PENGU tokens (valued at about $66.6 million) to centralized exchanges
- PENGU has surged roughly 240% over the past month
- Scammers have ramped up phishing and dust‑token tricks
Over the last few weeks, the Pudgy Penguins (PENGU) team transferred approximately 2.1 billion PENGU tokens (valued at about $66.6 million) to centralized exchanges. Just today, on July 28, a 206.9 million-token transfer (approximately $8.9 million) took place.
PENGU has surged roughly 240% over the past month, driven by ETF-related hype, though analysts warn that this large-scale token movement by team insiders signals potential liquidation and price dumps.
Rise in phishing scams targeting PENGU community
However, more troubling is that in tandem with price movements, scammers have ramped up phishing and dust‑token tricks. To be more precise, small amounts of PENGU are sent to random wallets with vanity names that lead to fake domains mimicking the project, which results in unsuspecting users getting tricked into connecting wallets and signing malicious transactions.
Yesterday, Beau (head of secur…
The post PENGU Community Rocked by $66 Million Team Dump and Flood of Scammers appeared first on Coin Edition.
Read More
Traders Add to XRP Futures; $3 Support Holds, $3.06 Caps Near-Term Upside