Understanding Fake (Flash) Crypto
What is Fake (Flash) Crypto?
Fake (Flash) Crypto refers to tokens that mimic real cryptocurrencies in terms of appearance and price but are not actually tradable or usable. Scammers claim these tokens can be created and used to trick others into thinking they hold real assets.
Does Fake Crypto Really Exist?
No, it does not! Top-tier wallets like Trust Wallet and MetaMask have strict security measures and verification processes. They do not fetch token data directly from blockchains or DEX platforms, making it impossible for fake assets to appear in your wallet as legitimate ones.
Scammers who claim to provide TRC-20 USDT or similar fake tokens that supposedly show up in Trust Wallet are lying. Their methods include:
- Using a fake Trust Wallet application to create a fake balance display.
- Manipulating token decimals to show inflated balances.
- Sending a small amount of real tokens to trick victims into believing in a fake system.
🚨 Fake crypto is a scam! Do not trust anyone selling such services.
Real types of fake cryptocurrency
1. Exploiting Compromised Assets
Some tokens were once real but lost their value due to hacks or network issues. A notable example is the Fantom network, where certain old tokens can still be bought at lower prices. These tokens may sometimes appear in Tier-1 wallets until the issue is patched.
We get 1 BTC for 2600$, which will show up at the real price on many wallets
Another case was the wrapped ETH (wETH) on Solana, which lost peg and was available at significantly lower prices.
We get 1 ETH for 500$, which will show up at the real price on many wallets, currently even Trust Wallet
2. Creating Custom Fake Tokens
Certain blockchains allow anyone to create tokens that look like real ones. The best networks for this are:
TON Blockchain
- Supports metadata for custom token display.
- Allows creating honeypot tokens (tokens that can be bought but not sold)(It's important that liquidity is not stolen from the pool).
- Price appears on Web3 wallets of exchanges (e.g., Bybit Web3, OKX Web3) as soon as a liquidity pool is created.
- Shows price on native TON wallets:
- Tonkeeper
- Telegram Wallet
🚨 For price visibility in native wallets:
- A liquidity pool with at least 100 TON must exist.
- The token should have 200+ holders.
EVM Networks (ETH, BSC, BASE)
- Allows creating honeypot tokens (tokens that can be bought but not sold)(It's important that liquidity is not stolen from the pool).
- However, wallets do not automatically display token images(wallets themselves decide where they get the data from and many wallets also put the data on the picture directly in their application, and it is necessary to give them a request for it).
- Price appears on Web3 wallets of exchanges (e.g., Bybit Web3, OKX Web3) as soon as a liquidity pool is created.
🔗 Read our guide on how token pricing works
Solana is not an ideal network for creating fake tokens, as it lacks honeypot mechanics to prevent sales.
✅ To create a fake token, message me on → Telegram (@HoneyChain2)