A major cryptocurrency scam by Dingo Token, as per researchers who discovered backdoor features intended to steal users' money.
Check Point analysts observed this fraudulent charge modification 47 times before issuing the alert. The Dingo Smart Contract's purchase and sell fees are adjustable by up to 99% using a backdoor method called 'setTaxFeePercent,' according to Check Point Research (CPR), which examined the code for the contract. Despite the fact that the project's whitepaper claims that only a 10% fee for each transaction, this is the case.
According to the cyber security software company, one customer purchased 427 million Dingo Tokens for $26.89 but received 4.27 million, or $0.27 value of Dingo Tokens. Dingo Token had a current market valuation of $223,992 and was rated 1915 on CoinMarketCap. Recent complaints about the Dingo Token have also been made by users of CoinMarketCap and Twitter. Crypto dealer IncredibleJoker stated in a post on February 5 they could not sell their assets.
According to Check Point's head of product vulnerabilities research, Oded Vanunu, what his group uncovered at Dingo Token is becoming more regular, "this is a popular method that locks users' funds until the scammers gradually withdraw the entire sum. A growing number of scammers are lured to cryptocurrencies. They can remain unidentified. It moves quickly. It's profitable."
Users are worried that once the creators determine that the value has peaked, they will turn on the backdoor to steal 99% of all users' coins. Investors in cryptocurrencies should be upfront about their questions in order to hear what other people have to say about a project. Whether you are new to trading, it is advised to diversify your money over several different coins and only utilize reliable exchange providers.
DingoToken: What is it?
DingoToken enables users to quickly deposit ANY tokens, including BEP-20 tokens, into an NFT. Now, a rare NFT can be turned into a basket containing a variety of different tokens. An entirely new NFT world is made possible by the DingoToken platform, a new protocol layer. The decentralized app (DApp) built on top of the DingoToken Protocol and targeted at art/collectible NFTs will also be made available for our public launch.
The DApp enables users to Mint / Generate an NFT, deposit their preferred asset into it, and then create their own NFTs. Only NFTs produced with the Dingo NFT Minting Station are supported in our v1 online application. To protect platform users' safety, steps are being taken by the firm. The option to mint one's own NFTs or buy those produced by Dingo Token platform users is available to users.
