The famous cryptocurrency research company SoSoValue has just issued a warning about the appearance of a counterfeit Token called SOSO, deployed on the Binance Smart Chain (BSC). The company affirms that they have not issued any official cryptocurrency and urges users to be extremely cautious to protect their assets.
SoSoValue's warning comes after the CoinSpeedrun analysis platform detected a fake contract, with the address 0xa484…5c8ac9, circulating on the BSC network. This is the second warning from the company within the past 48 hours, after another warning on Saturday regarding suspicious accounts on X disseminating phishing links. These accounts posted fake information about the sale of SoSoValue's instant cryptocurrency index protocol, or SoSoValue Indices (SSI).
Additionally, the AI-supported investment research company SoSoValue recently announced that they have raised $15 million in a Series A funding round, valuing the company at $200 million. This funding round was co-led by existing shareholders HSG and SmallSpark, with the goal of using the funds to drive the SSI product and protect the platform and users from the threats of scammers.
This is information that one of the accounts accused of disseminating the fake links has shared in at least two posts, one in Polish and one in Japanese.
However, hidden within the information about the funding round is a fake website, ssi[dot]sosovalue[dot]bet, disguised as a guide for users on how to purchase SSI. Analysis of this website reveals that it is, in fact, a fraudulent portal designed to lure cryptocurrency users into a trap.
The above incident is a clear reminder of how scammers are exploiting the popularity of cryptocurrencies and new technologies to defraud unsuspecting investors. These scamming tactics are becoming increasingly sophisticated and diverse, increasing the risk of losses for those participating in the crypto market.
In December 2024, hackers compromised the X account of Yat Siu, the co-founder of Animoca Brands, and used it to advertise a fake Token on Pump.fun. Similarly, in December, another investor lost over $300,000 when they attempted to open a fake job link. Although the initial website was not functional, it had installed malware on the victim's system and seized their digital wallet.
The renowned blockchain detective ZachXBT has also revealed a sophisticated scamming method used by cybercriminals. Specifically, they send fake emergency messages from X, claiming copyright infringement issues, with the aim of taking control of prominent accounts on this platform. After gaining access to these accounts, the scammers have exploited them to promote fake Solana Tokens, causing many unsuspecting users to fall into the trap. As a result, some victims have reported losing up to $500,000 in this scam.
SoSoValue urges investors and cryptocurrency users to be cautious and vigilant with links and information from unknown sources, especially when it comes to cryptocurrency transactions. Scammers are becoming increasingly sophisticated and are using social media, email, and other platforms to reach their victims.
Users should carefully check websites before making any transactions, especially those with suspicious signs, such as a lack of HTTPS security certificates or website addresses that do not match the official company name. Furthermore, the use of authentication and security platforms, such as hardware wallets and two-factor authentication (2FA), can help users protect their assets from cyber attacks.
SoSoValue also advises investors never to share personal information or the security keys of their cryptocurrency wallets with anyone, whether strangers or those claiming to represent well-known cryptocurrency companies.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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Justin
