Scam Alert: Animoca Brands Warns of a New Fake Token on Uniswap V2

An investor in non-fungible token (NFT) and metaverse projects, Animoca Brands, today issued a scam alert regarding a new ERC-20 token, dubbed “Animoca Brands Metaverse” on Uniswap V2. The Hong Kong-based firm said the asset fraudulently claims to be associated with it and uses the symbol “Animoca.”

The Fraudulent Animoca Brands Metaverse Token

According to the official press release, Animoca Brands clarified that the namesake token has no connection to the company. It urged the community to stay away from the fraudulent coin and any related activities, such as engaging in any form, including social media and messaging apps.

The company also asked to switch to a new wallet immediately if any individual has already received or bought some of these tokens to mitigate the chances of being targeted in future scams.

It also stated,

“Animoca Brands reserves the right to take necessary actions against the operators of the fake token for copyright infringement, impersonation, and misrepresentation, and against organizations and individuals that enable the fraudulent token to perpetuate its fraudulent claims.”

Blockchain analytics and security firm, Peckshield also revealed that it detected the scammers behind the fraudulent Animoca Brands Metaverse token to have its liquidity removed.

Animoca Brands’ Expansion

Already an established name in the gaming space, Animoca Brands has firmed its footing in the metaverse and NFT world. The blockchain gaming company announced expanding to Japan with the launch of its strategic subsidiary Animoca Brands KK after raising approximately $10 million of funding in its seed round last month.

The Japanese arm would allow intellectual property (IP) holders in the country to develop fan communities via the issuance of its own NFTs and fungible tokens and participation in the broader Web3 ecosystem. It also revealed plans to work with professionals worldwide to help Japanese IP holders expand into global markets.

As reported by CryptoPotato, the company recently announced the launch of the Guild Accelerator Program to identify and invest up to $500K in the early-stage guild. The program, rolled out in partnership with the global venture accelerator, Brinc, will focus on the burgeoning play-to-earn (P2E) guild ecosystem worldwide.