A shady team MaskDAO launched a MASK coin. People can buy but are not able to sell.
A few months back, the MetaMask team hinted that they are planning to launch their own coin in this crypto industry because they have better user volume but they also hinted that they will not do the same until they will get some better option to launch their coin, to give benefit to the people. So the Metamask team hinted that they are looking for a better option to make their future coin unique in this crypto industry.
After the Metamask team statment, many bad actors started to launch their Mask coin. But the majority of them failed to introduce any kind of major scam. But recent reports claimed that a newly launched Mask token scammed many people.
A Twitter user shared a screenshot of his transaction history. Through the screenshot, he showed that he did a transaction of Mask token seven times to sell his Mask token at any price but he failed.
Transactions clearly showed that the user bought this scam coin with a total of 22 Ethereum, which is worth around $88,000.
After the tweet of this guy, a few experts explained about this scam and how the Mask token team tricked the Dex.
According to @cobynft, crypto enthusiast, the main website for MASK tokens is MaskDao and MaskDao was registered on 27 December. And also scammers used many types of scripts and details to get the blue tick on the exchange.
@Cobynft also noted that sell of the Mask token halted after the injection of $1 million liquidity. And now this token is labeled as a honeypot.
This is similar to the Squid game token scam, which stole millions of dollars in the crypto industry.