Zama Founder Warns Investors of Scam Surrounding Non-Existent ZAMA Token

Rand emphasizes the importance of vigilance against fraudulent tokens, particularly highlighting a scam with a fully diluted valuation of $60 million.

CAKE

Summary

Zama founder Rand has alerted investors to the existence of a scam involving a non-existent ZAMA token on PancakeSwap, which has reached a fully diluted valuation of $60 million. He warns that many investors could lose their funds and advises caution in this matter.

Terms & Concepts
  • PancakeSwap: A decentralized exchange (DEX) for trading cryptocurrencies on the Binance Smart Chain, known for its automated market-making.
  • fully diluted valuation: The total market capitalization of a cryptocurrency if all tokens were issued and in circulation.