PeckShield has brought to light a deceptive ZOOM-WETH trading pair on Uniswap, leading Chainzoom to postpone its event for generating tokens.

This social layer is tailored specifically for traders on decentralized exchanges (DEX), functioning seamlessly on the X social media platform. Chainzoom Reports have surfaced indicating that fraudsters have listed false ZOOM/WETH trading pairs on the Uniswap DEX to deceive users.

In light of the situation, Chainzoom has opted to reschedule the token generation event (TGE) for ZOOM. They plan to contact Uniswap to eliminate the fraudulent trading pairs and introduce the legitimate ZOOM/WETH pair instead. To further protect users, airdrops will be issued to all ZOOM holders.

Earlier this week, the project made a public announcement regarding its intent to launch the ZOOM token on Uniswap, aiming to introduce a ZOOM-ETH trading pair with $500,000 in liquidity—equivalent to $250,000 in ETH—set for April 16th. Unfortunately, a malicious party quickly acted to undermine this initiative.

The blockchain security firm PeckShield has noted a significant drop of 42% in the value of the fake ZOOM token within the past hour. Moreover, this scammer has also interacted with Binance, a prominent cryptocurrency exchange.

Stay updated on cryptocurrency distributions by checking out our Airdrops Calendar .

What is Chainzoom?

Chainzoom takes a novel approach to social media trading, integrating analysis, discovery, and trading into a streamlined process directly on X. This innovation allows users to execute trades for tokens instantly without leaving the platform, thereby streamlining their experience and maximizing value.

Chainzoom is compatible with a variety of blockchains such as Ethereum Base, and Solana, with future expansions expected for Sui, Arbitrum, Optimism, Avalanche, BSC, and Polygon. The platform is also linked with Jupiter Kyberswap, LiFi, Thruster, and Flowx. Currently, Chainzoom boasts over 120,000 connected wallets and has generated trading volumes exceeding $30 million.

Recently, Chainzoom successfully wrapped up its ZOOM token public sale on Fjord Foundry, a platform that supports Liquidity Bootstrapping Pools (LBPs), raising over $1.56 million from 772 participants.