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The Pudgy Penguins’ PENGU token has seen massive transfers to centralized exchanges, raising concerns of a potential sell-off. Meanwhile, scammers are exploiting the token’s rally with phishing attacks and fake airdrops.
- PENGU team transferred 2B tokens ($66.6M) to CEXs in a month, signaling possible sell-off plans.
- Scammers are using dusting attacks with vanity addresses to trick users into phishing sites.
- Fake PENGU tokens act as honeypots, trapping users during swaps and draining wallets.
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