Less than two days after Monad’s mainnet and its MON token went live, the network faced spoofed ERC-20 token transfer attacks that generated misleading blockchain activity. These fake transfers exploited the ERC-20 standard’s event logging, creating false impressions of token movement without real wallet signatures or fund transfers. Monad’s CTO highlighted the issue as a known challenge in EVM-compatible chains, warning users to stay vigilant during the network’s crucial early adoption phase. Despite this, Monad has seen strong user engagement with over 76,000 wallets claiming MON tokens and a substantial price surge, underlining its potential as a high-performance Ethereum alternative.
Continue to read Monad Network Hit by Fake ERC-20 Token Transfer Scams Shortly After Launch
Less than two days after Monad’s mainnet and its MON token went live, the network faced spoofed ERC-20 token transfer attacks that generated misleading blockchain activity. These fake transfers exploited the ERC-20 standard’s event logging, creating false impressions of token movement without real wallet signatures or fund transfers. Monad’s CTO highlighted the issue as a known challenge in EVM-compatible chains, warning users to stay vigilant during the network’s crucial early adoption phase. Despite this, Monad has seen strong user engagement with over 76,000 wallets claiming MON tokens and a substantial price surge, underlining its potential as a high-performance Ethereum alternative.
Continue to read Monad Network Hit by Fake ERC-20 Token Transfer Scams Shortly After Launch
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