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Crypto scam

Morgenstern to Launch his Own Crypto or its Another Crypto Scam?

Seems like a new cryptocurrency scam? Crypto scammers often advertise token sales on behalf of various celebrities. This time, something bizarre happened: the scammers created several websites on behalf of the famous Russian rapper Morgenshtern. Cybersecurity companies discovered it. According to experts, crypto scammers expect to sell tokens and escape with the money. Fan tokens have become especially popular this summer, and scammers are coming up with new schemes.

“Morgentokens” and “Morgencoins” — another cryptocurrency scam

On the Russian Internet, websites have appeared that prepare the sale of “morgentokens” and “morgencoins” — fake crypto coins allegedly on behalf of Morgenshtern.

There are several such websites — morgentoken.com, morgencoin.com, morgenshterncoin.com, etc. However, they do not use encryption, and the information does not match, indicating a fraudulent scheme and a crypto scam.

The scheme began to be prepared in June, and a month ago, scammers began to register and promote domains. Attackers could offer to buy tokens and could steal funds from crypto wallets through phishing.

Crypto scammers also promised to conduct an Airdrop (free distribution of tokens) among users who subscribe to the project’s social networks, invite new users there and create various content about the Morgenshtern token (videos, articles, memes, etc.)

If you can trust a crypto exchange or any crypto project, you should know that participating in airdrops is an excellent opportunity to start receiving rewards for completing easy tasks. For example, you can check all the information about LATOKEN airdrops, giveaways and lotteries on their official website.

LATOKEN is a fast-paced international crypto exchange and IEO platform with over 1.3 million users all over the globe, so you can be sure there’s no LATOKEN scam.

Previously, there were no such schemes. At the same time, the Morgenstern token, which is also not directly related to the singer, was already on sale less than a year ago. According to the Etherscan service, ten people own it.

Fan tokens: a crypto scam or not?

Such fan tokens were released by football clubs Juventus, FC Barcelona, ​​Arsenal, Formula 1 McLaren team and UFC MMA. According to experts, the sale of tokens is an opportunity for additional funding from fans amid the crisis. However, many do not know how to verify their authenticity, so they can buy a token on a fake website and be sure for a long time that they financially supported their favorite brand. 

Cryptocurrency scammers just use artists to steal money from overly gullible fans. In July, there were about 17 fraudulent websites mentioning Morgenshtern, which indicated, for example, that the artist was giving out money for taking surveys. After the survey, the victim of the crypto scam is asked to enter the card details on a phishing resource or pay a small “commission.”

Even though the situation with crypto scams is gradually improving, crypto scammers come up with more and more new schemes and techniques. To stay away from the most common cryptocurrency scams, you need to stay vigilant and always do your own research.

LATOKEN has written more than once or twice about how to stay safe from crypto fraud. We care about our users and do our best to ensure that every crypto enthusiast — a professional trader or newbie — stays safe when dealing with crypto.

If you want to learn more about different tokens listed on LATOKEN, crypto projects through LATOKEN Review, and tips on how to avoid becoming a victim of a cryptocurrency scam, follow us on Medium, LATOKEN Blog, or LATOKEN VCTV channels.

About LATOKEN 

LATOKEN is a fast-paced international crypto exchange and IEO platform with 1.3+ million users throughout the world.

LATOKEN brings commerce and banking to blockchain technology to automate transaction processing and save billions of working hours per year. Only one year after its launch, LATOKEN got 850,000+ downloads on Google Play and 1,200,000+ subscribers on social networks. Entrepreneurs and business owners who look for funding can also consider the LATOKEN IEO Launchpad. More than 300 digital assets and 500 crypto pairs are available for traders with the ability to connect using RESTful APIs or WebSocket.

What is more, LATOKEN has recently launched a P2P service for its users to improve the trader experience further. And the cherry on top, LATOKEN hosted the Blockchain Economic Forum last year. BEF Roadshows connect crypto investors with business people to build the next big things.

LATOKEN does not provide investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.