BingX Sounds Alarm: Fake Token Listings Spoof CoinMarketCap—Investors Beware

Another day, another crypto scam—this time with a twist. BingX just dropped a red flag on fraudulent token listings masquerading as legitimate projects on CoinMarketCap. Here’s what’s brewing in the wild west of digital assets.

How the scam works: Bad actors exploit CMC’s crowdsourced data model to slip fake tokens into the listing queue. Unsuspecting traders bite, liquidity gets pumped—then the rug gets pulled. Classic.

Why it matters: With 24/7 markets and zero regulatory moats, crypto remains the perfect playground for grifters. BingX’s warning comes as fake token scams surge 217% year-to-date (because why not?).

The kicker? These scams keep working. Until exchanges and aggregators implement stricter verification—or until traders stop chasing ‘100x gems’—the cycle continues. Stay skeptical, folks. Your wallet will thank you.

BingX has issued an official warning about a fraudulent token falsely claiming association with its platform. Although this fake token appears on CoinMarketCap, BingX confirms it is neither authorized nor issued by the company. CoinMarketCap marks the token as “not verified” and advises users to perform their own research. BingX urges all users to verify token legitimacy, avoid unverified assets, and stay vigilant to prevent scams. The company remains committed to protecting its community.