The applications will ask for users’ seed phrases and defraud them of their crypto assets.
A Warning to New Users
PancakeSwap is the top Decentralized Exchange (DEX) on Binance Smart Chain (BSC). Notably, the DEX does not have a mobile application. Already, some perpetrators have created applications on the Google play store, imitating the popular DEX.
Three fake PancakeSwap applications recently launched on the Google Play store, which Reddit user, R_PH, caught. All three counterfeit applications have the PancakeSwap’s emblem, including the same description.
“My dear crypto friends, pay attention (especially for New user). If you have heard of pancakeswap service, be aware that it does exist in web version only. NO APP VERSION,” the Reddit user warned users in post from September 27. “Today i opened Google play store to check some updates instead i encountered a “pancakeswap app.”
The creators launched all three applications to defraud users of their crypto assets by stealing their private keys. Thousands of users have downloaded the applications, and unfortunately, many users have already fallen victim to the fake application scam.
One of such is Mohammed Usman, who regretted downloading one of the applications on Google Play.
“Due to this app i lose all my coins. People please don’t connect your wallet with it. It will ask seed phrase and password, once you enter it. It will transfer all your coins,” Usman commented on Google Play.
Beware At All Times
It is essential to know that PancakeSwap DEX does not have an application, whether IOS or Android. With this in mind, we urge everyone to avoid downloading any of these applications.
We hope this expository will go a long way towards reducing the number of victims. The best way to ride the applications from the Google Store is to report the malicious apps.
Below is a list of the links to the applications, so you don’t download them if you eventually come across any and can report them.
PancakeSwap Fake Application 1
BSC News advises that every user/reader take note of this scam to avoid becoming another victim.
About PancakeSwap
PancakeSwap is a Decentralized Exchange (DEX) built on BSC. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.
In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BSC.
Where to find PancakeSwap:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
