June 26 (Cointime) - Tres Finance, a Decentralized Finance (DeFi) protocol, has alerted the community to a scam involving fake tokens that mimic legitimate transactions. Scammers target wallets with large amounts of stablecoins like Tether (USDT) or USD Coin (USDC) and create similar-looking wallet addresses, along with tokens that imitate legitimate ones.

They then create transactions that mimic legitimate ones, making it look like their target has been sending transactions to the wallet address they planted. Tres Finance co-founder Tal Zackon warned businesses and end-users to be cautious and recommended using a dedicated system to verify assets and third parties, as well as double-checking each transaction and address.