FLOKI INU, a popular crypto meme project, recently addressed users on X regarding allegations and rumors about their projects. They warned the crypto community to be cautious of anyone using their brand name and reputation to promote any project, as it is likely a scam.

FLOKI clarified the rumors of PetabyteCapital’s association with their project using their X handle @RealFlokiInu.

FLOKI also stressed that their project does not have a founder or co-founder.

“We want to clarify that PetabyteCapital is not and was NEVER a $FLOKI co-founder. #Floki is a community project and has never had a founder or co-founder.”

FLOKI made this announcement in response to reports of scam projects and individuals falsely associating themselves with them.

Their concerns escalated when they discovered some projects claiming to have a FLoKI co-founder to gain trust and hype around their own project.
The initial warning came when an account on X reported PetabyteCapital in a tweet for claiming to be a FlOKI co-founder and promoting a scam project.

ZachXBt, a blockchain sleuth, exposed two accounts – TraderNJ1 and PetaByteCapital – for deceiving multiple projects by using the names of other influencers or projects to obtain free tokens and then sell them to undisclosed followers.

In the case of BABYSHIB, NJ and Peta allegedly deviated from the original agreement by not promoting the project as promised and quickly selling their holdings.

A similar situation occurred with CBOT, where NJ and Peta supposedly negotiated for a percentage of the token supply in exchange for marketing efforts, but ended up liquidating the tokens instead. This raised concerns as NJ and Peta did not disclose their compensation arrangements when promoting these projects. They also used the names of other influencers to secure a share of the token supply, further complicating the situation.

Warning from the FLOKI INU Team about PetaByteCapital and the Importance of Due Diligence in Crypto Investments

The FLOKI INU team issued a precautionary statement clarifying that PetaByteCapital is not associated with FLOKI and that any potential future token launches would be officially announced through their official channels. They urged the crypto community to conduct thorough research (DYOR) and verify the authenticity of information before making any investment decisions.

“Users should beware and do their own research. Floki has not launched any other token. If we were to launch a new token, it would be announced first on our official channels.”

FLOKI INU is a community-based project inspired by the Shiba Inu breed. They have established several partnerships to solidify their position as a leading meme-based crypto. In July, FLOKI INU partnered with Binancepay to promote Floki Shop, an official merchandise store where users can purchase items with FLOKI tokens.

Since its launch in 2021, Floki Inu has become the market’s third most popular meme token, following Dogecoin and Shiba Inu. The token is currently priced at $0.0000156, experiencing a 6% decline in the last 24 hours.


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