A recent crypto scam involving a fake Cristiano Ronaldo-themed token, $CR7, has come to light. The token was promoted by a user named @ HardSnipe, who initially posted about it but deleted the original tweet and reposted it despite heavy warnings from the community.
Earlier today, on-chain analysis shared by @ SoloJayQ linked @ HardSnipe’s wallet to the extraction of over $350,000 from the $CR7 token, confirming suspicions of a coordinated rug pull scheme.
Tools like Bubblemaps, which visualize token transaction networks, have highlighted suspicious activity patterns around $CR7, helping users spot potential scams before falling victim.
This case is part of a troubling rise in fake tokens exploiting celebrity names to lure uninformed investors. The FTC's February 2025 advisory underscores this trend, warning that scams demanding crypto payments are increasing rapidly.
Key takeaway:
Always verify token contract addresses carefully before investing. Fake tokens often mimic legitimate branding, a tactic well-documented in guides like Avalanche Support’s coverage on counterfeit crypto assets.
Always Do Your Own Research DYOR
