Amazon Token Presale: The Crypto Scam To Avoid In 2023

✍️ 10 February, 2023 - 17:20 👤 Editor: Jakub Motyka

A fraudulent crypto project dubbed ‘Amazon token pre-sale’ has resurfaced
Scammers are using it to sell fake tokens to unsuspecting users. What are the dos and don'ts?
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An online crypto scam dubbed Amazon token pre-sale is back. The sham, which rocked the crypto space one year ago, claims to sell the AMZ token, AMZTRX, or AMZD2X. However, there is no official announcement of any upcoming amazon crypto coin or any of the said tokens.

In December last year, Avast antivirus cautioned users in a blog against the imposture. The article warned that the fake business was based on rumors and speculations. Amazon was purported to be preparing to launch a token pre-sale. Part of the speculations emerged from a job posting in July 2021.

Scammers Selling Fake Amazon Crypto Tokens To Unsuspecting Users

Scammers have capitalized on the rumors to sell fake cryptocurrencies. The phishers use adverts that seem to come from reputable sources like Guardian, Yahoo, or CNBC. The fraudulent links direct their victims to websites whose domains are run by the scammers.

Equally, fake social media accounts support the deceptive websites. The engagements on the platforms have been locked and cannot allow legitimate users to leave a comment.

Although Amazon has been bullish on crypto and NFTs, they have never unveiled a plan to launch its token. The retailer has also not come out clear on the rumors, something that left gullible investors at the mercy of the con artists.

The fraudsters rely on FOMO among crypto investors who want to profit quickly from blue chip ICOs. Initial Coin Offerings have a proven track record of making big fortunes to the perfect timers. Furthermore, Amazon's strong brand and reputation also give a hedge to the crooks.

How To Avoid Falling Victim To Amazon Token Presale Scam

Before investing in any new crypto project, one should do proper due diligence. You can verify them from sources like Reddit or any reputable broker. Some of the red flags include the use of grammatically incorrect English and fake websites with appealing images.

Aside, any form of unsolicited communication asking for wallet verification and seed phrases are some of the things to avoid. For the Amazon token pre-sale case, the fraudsters are linking purchases of the non-existing tokens to Amazon Prime Gaming Services.

The fake project also lets users create accounts with seemingly legitimate dashboards. They also accept tokens like BTC, ETH, and LTC for buying the fake tokens. Further, the sites use bonuses and discounts and the most targeted users are gamers.

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Jared Kirui

EN: Jared Kirui is an experienced financial writer with a passion for all things blockchain technology. Previously, he was into stock markets and forex, providing asset managers with top-notch content. With a flair for producing high-quality articles, he started covering crypto news in 2021. He is open-minded, trades for fun, and enjoys sports.

ES: Jared Kirui es un escritor financiero experimentado apasionado por todo lo relacionado con la tecnología blockchain. Anteriormente, estuvo en los mercados bursátiles y forex, brindando a los administradores de activos contenido de primer nivel. Con un don para producir artículos de alta calidad, comenzó a cubrir noticias crypto en 2021. Tiene una mente abierta, comercia por diversión y disfruta de los deportes.