6 Ways to Spot A Fake USDT Transaction

What is a Fake USDT Transaction? 🤔

A fake USDT transaction is a transaction in which USDT was sent using the ERC20 network, but the specific transaction is worthless.

How to Spot a Fake USDT Transaction 🧐

1. The Transaction Address: The contract Address for an original USDT transfer is “0xdac17f958d2ee523a2206206994597c13d831ec7”, but a fake transaction could be anything else except the above contract address.
2. The USDT Logo: An original USDT logo is green, however, a fake logo colour is grey.
3. Fully Diluted Market Cap: This is one of the most important ways to spot these fake transactions. If after clicking on the USDT symbol you are unable to find the fully diluted market cap.
4. Doesn’t reflect in your account: There is no USD Value for the USDT in the holder’s wallets.
5. Zero Token Information: If there is no major information on the token, such as its 24hr trading volume, market cap and circulating supply it might be a fake USDT transaction.
6. Scan for the transaction: Once a transaction is complete, the user will need to provide you with a transaction hash. You can scan for the transaction on an ETH network explorer like etherscan.io to see details of the transaction.

What to do after you spot a fake transaction

Contact our CX team via the help desk on the app.