New Dogecoin Scam – Tamadoge A More Secure Meme Coin

The newest meme coin Tamadoge has raised over $1 million in days after its beta presale. Will this play-to-earn crypto be next Dogecoin?

The official Dogcoin twitter account posted a warning about a “Dogcoin Wallet Scam” via the social media platform on Saturday. The scammers pose as a tech support service for people who have questions, concerns or difficulties with meme coins.

Users who contacted the fake account were tricked into creating a fake wallet that asked for their seed phrase to solve their technical problem. Additionally, the official Dogecoin account has emphasized that users should never reveal their seed phrases or account information, which remains a basic rule of crypto.

The Dogecoin community has warned against impersonating Dogecoin and its founder Dogechain.info. Dogechain is the project in question, and it claims that by placing wrapped DOGE coins on the brilliant agreement span, it is possible to provide utility to Dogecoin, such as NFTs and DeFi. Nonetheless, the Dogecoin developer community expressed reservations about the project and severed all ties with it.

New Dogecoin Scam

It is worth noting that the Sham account in question was created before the official launch of Dogecoin in 2012. As the meme currency rapidly gained popularity in 2021, its holders were inexperienced investors and became a popular target for scammers.

Many Dogecoin clones that have been created have proven to be worthless scams. Elliptic, a cryptocurrency researcher, has discovered a dramatic increase in Dogecoin transactions linked to illegal behavior on the dark web. Jackson Palmer, a Dogecoin co-founder, has gone so far as to claim that cryptocurrencies facilitate fraud.

He has been harshly critical of those who have attempted to speculate on the meme coin’s price fluctuations. However, he does not believe that the meme currency itself is a scam. In a class-action lawsuit, a Dogecoin buyer accused Tesla CEO Elon Musk of endorsing the cryptocurrency.

Related: Tamadoge Offers $100,000 Crypto Giveaway to Holders

According to reports, the scam was discovered after the community became aware of several unusual transactions on the Dogecoin chain. Mishaboar, a Dogecoin enthusiast, stated that previous transactions were automated and relatively small. The same fan provided a list of all the addresses associated with these transactions. Scammers use other people’s money to pay off a small number of victims before fleeing with the remaining funds. The few people who received payments intend to give the business concept the appearance of legitimacy while concealing the numerous warning signs of such frauds.

It is worth noting that the alleged scam enticed Dogecoin owners as an investment opportunity. In contrast, the high rate of return on investment piqued the interest of several cryptocurrency enthusiasts, who assisted in uncovering the scam.

In June, Dogecoin co-founder Jackson Palmer went so far as to argue that cryptocurrencies enable fraud. Despite his criticism of people who have sought to speculate on the meme coin’s price swings, he does not believe it is a fraud.

The Dogecoin account said that it would never request a Trust wallet, seed phrases, or account information from users. However, a buyer of Dogecoin has launched a class-action lawsuit against Tesla CEO Elon Musk, accusing him of promoting the token.

Tamadoge a More Secure Meme Coin on Presale

Tamadoge is another fantastic meme coin that takes a unique approach by combining meme coin principles with elements of the play-to-earn (P2E) game.

This newest meme coin has swept the industry since its beta presale launched on July 2. In the short time the play-and-earn crypto project has attracted over $1 million in investments. With the beta pre-sale capped at $2 million, it is likely to sell out before the September 2 deadline. Will it be next Dogecoin?

Check here for our guide on how to buy Tamadoge (TAMA).

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