PancakeSwap Issues Warnings In Wake of Increased Scammer Activity

Scammers are now DMing users to offer faster mirrors, causing PancakeSwap to issue a series of user warnings.

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Twitter Scammers

Scammers have been messaging PancakeSwap users on Twitter to offer them faster URLs and alternative mirrors for PancakeSwap. This has prompted PancakeSwap to issue urgent user warnings that all of these so-called alternatives are scams. 

With transaction numbers recently hitting an ATH on Binance Smart Chain the network is under heavy stress and may be slower and more expensive than usual. Scammers are using this busy period as a further opportunity to profit at the expense of others. As PancakeSwap said in a tweet on November 28th:

“Scammers are starting to DM users ‘faster mirror’ or ‘alternative URLs’. They are all SCAMS! With transaction numbers being ATH, BSC is under heavy load. Try selecting a higher gas price in [the] settings panel to speed up your transaction.”

While peak network usage can be a pain and make the cost of transactions a little higher than normal, there really is no shortcut. Binance Smart Chain transactions remain many times cheaper than token transfers and swaps on alternative networks.

For users looking to minimize cost further transactions fees may be lower between 9PM-11PM UTC.

Advert Scams

Direct messaging is not the only means by which scammers are reaching their victims. Another popular method is to place adverts on Google. By purchasing an advert on the search engine the scammers can have their false site list higher than the genuine article.

PancakeSwap recommends users bookmark the genuine site at pancakeswap.finance and always use this link over searching on Google. 

Scammers never tire of thinking of new ways to part users with their hard-earned money, so stay vigilant and stay SAFU.

Source : bsc.news