‘Pahalgam’ and ‘Operation Sindoor’ Crypto Tokens Surface Online Amid Security Warnings

New crypto tokens using the names ‘Pahalgam’ and ‘Operation Sindoor’ have started appearing across different platforms, including the Solana blockchain. Both tokens are missing important safety details, have no verified on-chain data, lack proper audits, and offer no information about their creators. This has raised concerns that these projects could be rug pulls or misleading schemes, aiming to trap unsuspecting investors.

What’s more worrying is that these token names are linked to sensitive recent events in India. ‘Operation Sindoor’ refers to an Indian military strike on terror camps in Pakistan, carried out after a deadly terror attack in Pahalgam, Kashmir. Using these high-profile, emotional events to name crypto tokens seems like an attempt to exploit public sentiment and current news trends — a tactic sadly seen before in the crypto world.

Concerns Over Pump and Dump Schemes

Most of these tokens have small market caps and low trading volumes. Some of these appeared just hours after India launched the precision strikes on Tuesday.  This has led to concerns over possible rug pulls or misleading schemes that may involve risks of pump-and-dump schemes. 

Memecoins, especially the ones launched on platforms like Solana’s Pump.fun, often see volatile price swings. These memecoins lack any intrinsic value and heavily depend on the hype and social media trends. 

Investors should be careful and avoid interacting with such unverified tokens, with no proper safety measures, that use trending or sensitive names to draw attention.

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CZ Shares A Peace Message

Binance’s Changpeng Zhao shared a message of unity, as he called for peace and requested focus on economic growth and tech innovations to bring communities together.

After the attack, Bitcoin’s price quickly fell below $96,300 on Tuesday. It is currently trading at $99,032, up 2.5% in the past day.  The broader crypto market saw mixed reactions, with altcoins like Ethereum dipping slightly but holding steady. Despite initial volatility, cryptocurrencies have remained stable, with some witnessing gains today.