Jefe Token scam?

[Adam556]

Hi,

I'm wondering if anyone can help with an unusual situation. Apologies if this the wrong board to ask this.

Someone I know has lost a significant amount of crypto to a scam. The scammers claim they have returned some of it to their wallet (Coinbase Wallet) in the form of Jefe Token on Phantom Opera network.

However, this token doesn't appear to be actively traded anywhere and there's no trading volume displayed on CoinMarketCap, plus the market cap is $0. Another weird thing is that the value of the token is fluctuating in his wallet which is displaying anything from $60,000-$100,000.

I can't understand a) why it's showing a value and b) why the value is changing when there's no trading volume.

There's another scam in play here I'm sure, but I can't figure out exactly how it works.

Thanks in advance for any insight.

[noviesol]

Do you have a contract adress?

The value showing is the last known price eventhough there is no volume anymore. Most of the time the token price is paired to ETH or any other coin. Thus, changing value in ETH changes the value displayed.

[albon]

No scammer would ever return part of the stolen funds to the victim. The tokens they sent are just another scam. The displayed value is entirely fake and intended to lure the victim into performing a swap or redirecting them to a phishing site. The scammers manipulate the value through the token’s contract.

If the token is not traded anywhere and there is no apparent trading volume, it is 100% a scam. Please be cautious. Interacting with the token’s smart contract could cost you high gas fees or expose you to further risks.

[Adam556]

Do you have a contract adress?

The value showing is the last known price eventhough there is no volume anymore. Most of the time the token price is paired to ETH or any other coin. Thus, changing value in ETH changes the value displayed.

I don't, but it's clearly some kind of scam. Thanks for the info re pairing - very useful.

[Adam556]

No scammer would ever return part of the stolen funds to the victim. The tokens they sent are just another scam. The displayed value is entirely fake and intended to lure the victim into performing a swap or redirecting them to a phishing site. The scammers manipulate the value through the token’s contract.

If the token is not traded anywhere and there is no apparent trading volume, it is 100% a scam. Please be cautious. Interacting with the token’s smart contract could cost you high gas fees or expose you to further risks.

Thanks, yes, it's definitely a scammer and the value isn't real but I was confused as to why it was fluctuating. Great info re manipulating the value through the contract, thank you.

[aioc]

Do you have a contract adress?

The value showing is the last known price eventhough there is no volume anymore. Most of the time the token price is paired to ETH or any other coin. Thus, changing value in ETH changes the value displayed.

I don't, but it's clearly some kind of scam. Thanks for the info re pairing - very useful.

There is a Jefe token on Sol on Coinmarketcap

https://coinmarketcap.com/currencies/jefe-token/ contract address is 0x9fd22a17b4a96da3f83797d122172c450381fb88

But you have to ask your friend about the contract address of the token that was sent to his wallet There is no volume on this token, sending you a worthless token in exchange to your trade able token is considered scamming

[Cointxz]

No scammer would ever return part of the stolen funds to the victim. The tokens they sent are just another scam. The displayed value is entirely fake and intended to lure the victim into performing a swap or redirecting them to a phishing site. The scammers manipulate the value through the token’s contract.

If the token is not traded anywhere and there is no apparent trading volume, it is 100% a scam. Please be cautious. Interacting with the token’s smart contract could cost you high gas fees or expose you to further risks.

Thanks, yes, it's definitely a scammer and the value isn't real but I was confused as to why it was fluctuating. Great info re manipulating the value through the contract, thank you.

Are you sure that you are looking on same contract address? Because the price on wallet depends on the exchange that list it. Probably, it’s listed on a DEX that has a recent trade that’s why the price fluctuates.

If you can give the exact contract address we can give you a better overview on what’s happening.

A scammer will never refund funds in a form or other tokens. Maybe this token are one of those shitcoins that charge huge fees when you transfer it to other wallet or when you tried to exchange it on DEX.

[The Cryptovator]

It's a scam. Let's say you have bought a token and traded for some time on the Dex. Then it's dead and no more trading volume; also, there is no LP. It means you can't exchange your tokens. Price would show from the last trade; it's not serious issues. Then the project sent you more tokens; it would show your balance in USD, but you can't sell it anywhere. So sending you tokens is just useless. I never heard scammer returning the funds this way; it's just kidding him.

I have some worthless tokens on Yobit they gave me free, though I don't use it, but showing a balance of 0.07 BTC. Means tokens aren't trading anymore, just showing the last price. You can't sell it since there is no buy order, no volume and no liquidity as well. So I believe something similar happened with that guy.

[Bitcoin_Arena]

There is a Jefe token on Sol on Coinmarketcap

https://coinmarketcap.com/currencies/jefe-token/ contract address is 0x9fd22a17b4a96da3f83797d122172c450381fb88

That is not a Solana kind of contract address, though. The token exists on Optimism and Ethereum networks via that contract address. It surely is a scam kind of token. Totally floored with no worthy value. There are just a few buy and sell orders that happen about every 12–24 hours, thus the fluctuations OP sees in the price of the tokens he has in the wallet. The buy and sell orders are just worth $0.12, $0.07, $0.04… So the whole token is just hopless.