The world of cryptocurrencies is rife with both opportunities and risks. While some tokens promise astronomical gains, others hide behind a smokescreen of deception. In this article, we will delve into the story of HareKing, an ERC20 token that turned out to be a scam, and its successor, the HareGod token.
What is the HareKing Token, and Why Was it a Scam?
Positioning itself as a decentralized finance (DeFi) platform, HareKing was launched in 2021. It claimed to offer various financial services like yield farming, liquidity pools, and staking. Playing on the Binance (BNB) Smart Chain, the HareKing ERC20 token gathered gullible fans who hoped they had landed on the next big meme token.
The Lack of Transparency
However, it took only a short time before a closer analysis of the token suggested that the HareKing Coin was not a legitimate project but a scam. From the start, it needed to be clarified who the project’s creators were. Nothing was known about their background or their credentials in the crypto industry. The lack of transparency raised a massive red flag.
We tried visiting the website again to find out if HareKing is legit. To our surprise (not really), we couldn’t get in. The developers have a login wall that doesn’t allow you to register or log in. Moreover, Twitter has suspended the handle that the developers used to attract investors. Fishy, right?
The Rug Pull
As it stands, the HareKing project was a massive rug pull. The developers decided to pack up and leave, shutting down everything that would remind people of the scam. Meanwhile, there is still a token with that name trading on PancakeSwap. However, it isn’t easy to pin down the HareKing token’s price as there isn’t enough data.
HareKing Was a Scam, But Now Comes HareGod
Disappointed that the HareKing project did not take off, some enthusiasts have launched a new Hare-themed project – the HareGod token.
An Uncertain Beginning
The whitepaper of this new scam project is full of basic English errors. Any 3rd grader would have written it better, given the chance. The project claims to have big ambitions, like creating NFTs mobile games and offering staking options to the community.
A Community-Driven Token
“HareGod was created out of the necessity of a coin that could be managed 100% by the community, since HareKing was left aside by the previous team, the community created HareGod,” the website reads.
Promises and Suspensions
Like the HareKing token, the HareGod claims to have 100,000 tokens that will repeat the impressive rally of the iconic meme token Shiba Inu (SHIB). In what comes as no surprise, the official Twitter handle of the project, as mentioned on the website, is also suspended.
In the world of cryptocurrencies, it’s essential to tread carefully. While there are legitimate projects with real potential, scams are waiting to take you from your hard-earned money. HareKing is a stark reminder that due diligence and research are paramount when investing in crypto. As for HareGod, given its questionable origins and suspended social media presence, it’s wise to stay far away. You can also know about GPT66X through that post.
Is HareKing still trading?
Yes, there is still a token with the name HareKing trading on PancakeSwap, but its legitimacy could be better.
What happened to the HareKing project’s website?
The project’s website is no longer accessible and appears to have been shut down by its developers.
Should I invest in the HareGod token?
No, the HareGod token is linked to the HareKing scam and lacks transparency. It’s advisable to avoid it.
Are there any legitimate crypto investments similar to HareKing?
There are many legitimate crypto investments, but conducting thorough research and due diligence is crucial before investing in any project.
How can I protect myself from crypto scams?
To protect yourself from crypto scams, always research the project, its team, and its transparency. Be wary of projects with unclear backgrounds and promises that sound too good.