Most people think copycat tokens and coins with the same name are easy to spot, but here’s where it’s easy to make a mistake:
When trading on a centralized exchange, you choose a trading pair and don’t need to enter a contract address yourself. When withdrawing to the blockchain, you need to verify the network and token.
Even officially published contract addresses can be spoofed: an address posted by an account impersonating an official one may look almost identical, differing by just a few characters.
When checking an address, looking only at the first and last few characters isn’t enough. A spoofed address may be deliberately made to have the same beginning and ending.
When trading on Binance, $DOGE you don’t need to worry about the contract address, but there are countless tokens called DOGE on-chain.
When trading on a centralized exchange, you choose a trading pair and don’t need to enter a contract address yourself. When withdrawing to the blockchain, you need to verify the network and token.
Even officially published contract addresses can be spoofed: an address posted by an account impersonating an official one may look almost identical, differing by just a few characters.
When checking an address, looking only at the first and last few characters isn’t enough. A spoofed address may be deliberately made to have the same beginning and ending.
When trading on Binance, $DOGE you don’t need to worry about the contract address, but there are countless tokens called DOGE on-chain.