Unknown actors launched a fake ‘Sbercoin’ on PancakeSwap

The SberCoin.Finance project launched trading of the SBER token under the guise of the Bank’s official stablecoin.

The developers заявляют their connection to Sberbank and promise a fixed annual return of 383,025%.

In a ForkLog comment, representatives of Sberbank denied involvement in the project and clarified that the official Sbercoin has not yet been released.

One of the first to publicise the coin пропиарило the Business Insider.

Sbercoin began trading on the non-custodial exchange PancakeSwap at a price of $0.0002615, according to данным CoinMarketCap. By April 1, the token’s market value had fallen by more than 95%.

The maximum daily trading volume reached $2 million, the minimum was $337. The total supply of SBER is 4 billion tokens.

As of writing, SBER was trading at $0.00006938.

On 17 March 2022, the Bank of Russia included Sberbank in the registry of information-system operators, which gives it the right to issue its own digital financial assets.

Read ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, rates and analysis.