A well-known crypto research company, SoSoValue, has recently came forth with a warning regarding a fraudster token called as SOSO And the token is made available on the Binance Smart Chain. The company stated that it has not rolled out any type of SOSO token and also has cautioned their users about being cautious during trading.
This token was flagged by CoinSpeedrun, an on-chain analytics platform, along with the contract address to be 0xa484…5c8ac9, hence revealing the scam on the BSC Network.
SoOne, a SoSoValue security analytics partner, issued a warning regarding SoSoValue Tokens just days before. SoSo Indices Crypto Index were being falsely promoted on the X social media platform and so were phishing links by malicious accounts.
Moreover it also encouraged users to trade SoSoValue Indices more than they were supposed to. These posts were completely misleading in nature and call for strict action against these. SoSo Value has also advised their users regarding said phishing schemes to prevent alarms from propahunding.
The multi-step approach firms including Allied Marketers are taking to diversify across products is paying off. The firm recently grabbed headlines as it received $15 million in a Series A funding round.
The investment was co-led by HSG and SmallSpark and values the investment company at $200 million. The funding directed towards improving the SSI product and protecting the platform and its users from malicious actions like scamming, and phishing.
Although this announcement was grand and gaining attention, scammers made good use of the news to con users. Scammers operating from one of the accounts posted Fuk links on their social media together with seo posts I wrote in Polish and Japanese in order to fool users into getting them.
One of the links took me to ssi[dot]sosovalue[dot]bet, which was claiming to assist with selling SSI to purchasers. After some further digging into the site, it was established that it was simply a phishing attempt set up to try and scam users out of their personal and cryptocurrency information.
Cybercriminals are turning more sophisticated with these schemes and fake tokens that take advantage of actual crypto projects, stealing the limelight. Such scams tend to often use unsavvy investors as bait, who do not have the foggiest idea about complicated plans regarding phishing.
SoSoValue’s recent warning draws attention to an increasing trend in the crypto sphere, that of bad actors concealing perpetrators using fake tokens and spoofing techniques to defraud users.
There is nothing new with this particular scheme being used to defraud individuals. In the month of December 2025, hackers were able to gain access to X account of Animoca Brands co founder Yat Siu and used the account to fomt a fake token on Pump.fun and this increase the risk to social media users.
Also, Another crypto speculator map made over 300,000 losses in December by clicking on a link to a fake work meeting, a link that seemed innocent but ended up getting his computer with a malware. Using this malware, the assailant was able to breach into the individual’s digital wallet and in turn,plunder the crypto assets.
Likewise, blockchain investigator, ZachXBT, revealed that a crime group was engaging the use of phishing mails with X written at the top claiming copyright infringement, as a disguise to the scam that was being perpetuated. These emails were then used to commandeer the high profile accounts and promote fake Solana meme coins with the victims losing a lot of money.
This burgeoning menace is a wake-up call for all crypto believers thatoundless devotion paired with lack of vigilance could spell content for loss and despair —particularly when the offered an opportunity appears to be a steal.
Among the warning signs discerning investors should pay attention to are spam messages, non-paper websites, and investment schemes and cryptocurrencies protocols they receive messages about. Users should always eliminate risk by cross-examining information, treating URLs with suspicion and refusing to give away sensitive data to untrustworthy sources.
As defenders against fraud expand their mastery of the crypto sphere, its growing means and opportunities are being abused by cybercriminals as well, so security literacy is more relevant than ever.
