April 17, 2024

Ukraine Reveals Peaceful World Token is a Scam; Cancels Planned Airdrop

Regrettably, the peaceful world token, an airdrop that was set to be launched today, has been canceled by the vice prime minister of Ukraine, Fedorov Mykhailo. Fedorov noted that it would be correct to say that investors who have bought the token from decentralized exchanges like PancakeSwap have lost their funds.

Ukraine has received over USD $50 million in crypto as donations from countries, individuals, and financial institutions, to support the country as they wage war against the Russian armed forces. The Ukrainian government received the donations through an address built on the Ethereum blockchain.

Having received close to USD $100 million through donations, the government of Ukraine, through an official press release, confirmed that it would be launching an airdrop on the 3rd of March, 18:00 Kyiv time (GMT +2). The announcement was followed by a promise from the government of Ukraine will reward donors with a secret token to be revealed at the airdrop’s launch time.

Peaceful World Token is a Scam

For the upcoming airdrop, Ukraine opted for Peaceful World as its token. Unfortunately, the scammers minted approximately 7,000,000,000 (7 billion) WORLD tokens. Pachshield affirmed that the supposed peaceful world token is a scam; he explained that the scammers sent most of the WORLD tokens to the Ukrainian address and then moved the tokens to other addresses.

According to a tweet by Fedorov via his official Twitter handle, the vice prime minister announced the cancellation of the proposed airdrop. He said that the decision was taken after proper consultations and due considerations were followed.

Fedorov expressed happiness that people are more than willing to help Ukraine during these turbulent times. He, however, concluded by saying that the government has opted for NFT to support the Ukrainian armed forces, as they no longer have plans to launch fungible tokens.

Uniswap – a decentralized exchange platform, recently added a feature that enables customers to swap ERC-20 tokens easily and donate to the government of Ukraine in a single transaction as support to the warring country. The crypto community was excited to welcome the newly introduced feature.

The Crypto Addresses for Donating to Ukraine

The ETH wallet for the receipt of donations by the government of Ukraine has about 17,500 others, with a current market value of over USD$50 million (this figure excludes donated funds already withdrawn). Ethereum, Tether USD, Dai, Decurian, Candle, USD Coin, and StarLink were the most popular cryptocurrencies used to contribute to Ukraine ETH addresses. However, due to scammers’ activities to hijack the donated funds, the government of Ukraine prefers the use of non-fungible tokens to fungible tokens.

Scammers are everywhere; they are on the rampage. Internet fraud has ripped many investors of their funds. They will utilize all means at their disposal to defraud unsuspecting investors and crypto traders in the marketplace. Therefore, when new tokens are launched, measures must be implemented to ensure the solidity and authenticity of such projects, protect investors, and secure invested funds.

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