Fake USDT Scams Display Wallet Balances While Blocking Sales
Investigation reveals fake tokens use restricted pools to mimic dollar value and trap crypto holders
A security investigation has identified 32 fake tokens that mimic the value of USDT. These assets display a convincing dollar balance in the user's wallet but prevent any attempt to sell them on the market.
The mechanism utilizes restricted liquidity pools on PancakeSwap. Automated wallets known as keepers perform constant trades among themselves to keep the asset price artificially close to one dollar.
Simulation tests demonstrated that when a regular holder tries to swap the fake token for real USDT, the transaction is rejected. The system uses specific pool permissions that block access to any wallet not included in the operators' approved list.
These fake tokens leverage familiar names and completed transfers to deceive the market. The displayed price is maintained only by internal trades, creating an illusion of stability that offers no usable exit route for the investor.
The use of hooks in pools allows the price to be set by recent trades between operators. This creates a divergence between the value shown in the wallet interface and the actual liquidity available to the general public.
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