Scammers created Fake PYUSD Tokens after the PayPal Announcement!

The post Scammers created Fake PYUSD Tokens after the PayPal Announcement! appeared first on Coinpedia Fintech News

PayPal’s announcement of its upcoming stablecoin, PYUSD, has led to the creation of fake tokens by scammers looking to deceive investors. Unsuspecting investors are lured by fraudulent tokens circulating on social media that falsely claim to be backed by PayPal, with some even having professional-looking websites set up. PayPal has warned its users against falling for these scams, stating that PYUSD is still in its planning stage and has not yet been launched. As the popularity of stablecoins increases, investors must exercise caution and thoroughly research any opportunities before investing.