Coinbase launched its own Layer-2 blockchain yesterday, built in collaboration with Optimism in its OP stack. The new Layer-2 blockchain, named Base, will host many of Coinbase’s on-chain products and offer EVMs at low costs to developers.

Unfortunately, opportunistic bad actors are once again trying to make a quick buck off of the success of other firms. Not even a day after Base was launched, Solidus Labs announced via their Token Sniffer website that at least four new tokens had been identified, all with names playing on Coinbase’s new product, such as Base Token and even the very generically named “Coin Chain.”

These tokens attempt to give off an air of legitimacy, hoping to lure gullible users into buying their tokens before realizing that they have nothing to do with Coinbase. Unfortunately, there is an even bigger issue at play: according to Token Sniffer, 3 of the 4 tokens in question appear to be honeypots.