- Twitter User tanjero.eth has identified KST as a scam token in his Twitter Thread.
Below is a quick overview of this project.
Konstrukt project has described itself as the platform of play to earn gaming solutions with integrated blockchain mechanics. Its main goal is to create a decentralized blockchain gaming environment that rewards token holders and offers a variety of features.
Firstly, it calls itself a casino while offering a play2earn game that resonates with Candy Crush. So this is itself quite a complicated model.
Secondly, this project has a security audit from Tech Audit, stating the prominent vulnerabilities on page 1. The owner can change the contract and many functionalities, which can mint new tokens, increase supply, or rug the entire thing. We will advise our readers to never put money into projects where the owner has control over the contract, as these types of projects are a money-making machine for the contract creator.
Also, when we go to https://bscheck.eu/, check this project. It shows that this project seems to be a scam.
Also, this project has seen a sudden price drop of more than 50% of its native token, i.e. KST, on April 13th, 2022. Also, when we go to its CoinMarketCap page, it shows us the alert that, The ownership of the smart contract isn’t renounced for the following asset, which means the owners are able to modify contract behavior (for example: disable selling, change fees, mint new tokens, or transfer tokens). Please exercise with extra caution if you are investing in this asset. As of now, this project has seen a sudden price surge of more than 170%.
As crypto scams are increasing nowadays, our readers should stay alert.