Crypto influencer FatMan has alleged that the World Cup Inu deployer is charging a 4% swap tax on decentralized trades, raising concerns about a possible scam.
In a statement in September, World Cup Inu confirmed its official launch on the Ethereum network as an ERC-20 token, claiming skyrocketing growth in the initial days. The token, meant for football and meme enthusiasts, was adopted by 800 crypto investors in 48 hours.
FIFA World Cup 2022 fever
The FIFA World Cup is scheduled to take place in Qatar from Nov. 20 to Dec. 18, 2022. With the International Football Federation announcing the launch of its metaverse ecosystem, ‘FIFA World,’ and Crypto.com grabbing the official partner title, crypto is married to the big event.
With the increasing craze, the possibility of scams has also gone up. FatMan from the Terra Research Forum has alleged that the WCI deployer has already cashed out over $300,000 from WCI. He commented, “There are also contract functions to unilaterally increase the swap tax and to pause trading. Please be careful; best to stay away.”
The token is up 1,000% in the last two weeks but seems to be losing value in the past day. On Uniswap, the previous day’s trading volume came close to $3 million.
WCI has also created a web3 betting front that lets users wager directly with ETH from their cryptocurrency wallets. WCI claims that the betting money remains in the smart contract until Oracle obtains the data to…