PeckShield’s team used their own Scam Token Checker tool and found that the BabyLuna project is a scam.
According to PeckShield, BabyLuna is a honeypot, that is, users cannot sell it after buying it.
A lot of information about this project is not available. It is not listed on any major cryptocurrency exchange and we could not find its official website.
In addition, most of its offer is contained in some portfolios. The top 100 holders collectively own 98.11%, or 98,113,462,641.81 tokens of its total offering. We can see the same screenshot from BscScan below.
If we look at some of the addresses as 0x67934e8a464e93afa28417c19e9f06fdb67277c1 has 5.6184% of its supply, 0x9d10cfc712c8e8a6e2afeb3015a53a56f6a4111b has 5.5737% of its offer and 0xcc7092a6fc055dd5f2bbe547fa4001a6fea9917a 5.4900% of its offer. So, these 3 wallets have almost 17% of its offer. So, these 3 wallets have the power to do market manipulation. So, users should stay away from this token. We can see the same screenshot from BscScan below.
Here is the address of the token: https://bscscan.com/token/0x9f826d380169aeb7fa254fb0c40cb1a9e5a138b4. It has a supply of 1,000,000,000,000 tokens. Currently, 164 addresses hold it.
We will recommend our readers to be careful and perform their own research before investing in it. As crypto scams are on the rise nowadays, our readers should be on the lookout.