Check Point Research (CPR), the threat intelligence arm of cybersecurity giant Check Point Software Technologies, published a blog on February 6 pointing out the Dingo Token cryptocurrency as a scam. Published.
Dingo Token is gaining popularity with an 8400% increase since the beginning of the year and a market capitalization of over $10 million. However, according to the blog, the threat actor behind the token had embedded a backdoor in the smart contract, manipulating the trading commission to 99%. It also said the backdoor had been used 47 times.
“Dingo Token is a clear scam,” said Oded Vanunu, head of product vulnerability research at CPR, warning investors in Dingo Token risk losing their fortunes.
｜Text and editing: coindesk JAPAN editorial department
｜ Top image: From the release
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