(MENAFN- eTrendy Stock) The Floki Inu memecoin project has alerted users and the cryptocurrency community about ongoing scams involving unauthorized tokens falsely associated with its brand. These fraudulent tokens have appeared on the Solana and Base blockchains, misleading investors.

The official X account of Floki Inu informed followers about the scam tokens, emphasizing that the legitimate Floki Inu (FLOKI) token is available only on the BNB Smart Chain and Ethereum networks. To help users avoid scams,

Floki Inu provided the correct contract addresses: Ethereum address“0xcf0c122c6b73ff809c693db761e7baebe62b6a2e” and BNB Smart Chain address“0xfb5b838b6cfeedc2873ab27866079ac55363d37e.” The project urged the community to obtain token information solely from official sources to prevent falling victim to fraudulent schemes.

Floki Inu's Ecosystem Enhancements

Amid security challenges, the development of the Floki Inu ecosystem is steadily progressing. The latest enhancement is the introduction of the FLOKI Name Service, available on the BNB Chain's mainnet. Thanks to the incorporation of Space ID architecture, this feature allows users to secure decentralized domain names that end with .floki. This innovation facilitates seamless integration with decentralized applications (DApps) such as Trust Wallet and PancakeSwap.

Floki Inu has achieved a new milestone by exceeding 417,400 holders on the BNB Chain. In recognition of this achievement, the creators have launched a rewards scheme that allows holders to receive interest rewards. The project also released its 2024 roadmap in March, detailing various forthcoming features and initiatives aimed at the utility, such as establishing regulated digital banking accounts that can be opened and financed with FLOKI tokens.

Regulatory Warnings and Future Plans

The plan encompasses collaboration with a regulated financial technology company to introduce digital banking solutions, including Swift payments and SEPA IBAN features. This endeavor will expand into several countries, namely Canada, Spain, Dominica, Australia, and the UAE. Additionally, in January, the Securities and Futures Commission (SFC) of Hong Kong issued a caution to the populace regarding the“Floki Staking Program” and the“TokenFi Staking Program.”

The SFC highlighted that these schemes propose staking options with the promise of yearly returns ranging from 30% to over 100%, but they are not approved for public distribution in Hong Kong.

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