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WallStreetBets Reddit Members Hit By Crypto Scam – Expected Losses Over $2 Mln.

Members of the WSB ‘WallStreetBets’ Reddit forum were targeted by a probable cryptocurrency scam that would have led to losses of over $2 Mln, consistent with Bloomberg.

Users were encouraged to shop for a new token referred to WSB Finance on an account called “WallStreetBets – Crypto Pumps” on messaging service Telegram

The account told users to transferred either Binance coins [BNB] or Ethereum [ETH, +1.88%] to a crypto wallet then contact its “token bot” to receive WSB Finance tokens, which were never delivered.

Around 3,451 BNB were then transferred from this wallet, which at the crypto’s present valuation of $650 equates to over $2.2 Mln. This doesn’t account for how much ETH was also transferred.

The Telegram group wasn’t affiliated with WSB and has since disappeared, consistent with the report, WallStreetBets gained notoriety earlier in January for causing an explosion within the price of GME [GameStop] stock within a community bid to counter short sellers.

The subreddit has been immune to permitting cryptocurrency discussion on its forums, tentatively lifting its ban in April before reinstating it less than 24 hours later.

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