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Tranchess Warns Users About Fake Core DAO Validator
By
Utulu Hope
March 3, 2023
Tranchess is not running any Validators on Core DAO and has warned users not to delegate any CORE to impersonators.
Fake Tranchess Validator on Core DAO
Scams and perpetrators are inevitable in the blockchain space. Following its unsolicited appearance as a Core DAO validator, Tranchess is the latest to be involved in the unfortunate act that threatens the crypto ecosystem.
Tranchess, a multi-chain yield-enhancing asset tracker on BNB Chain and Ethereum, wrote to users after discovering an irregular activity on Core Dao’s staking platform. It was uncovered that a user had been impersonating Tranchess as a validator on Core DAO. The protocol warned users against delegating any CORE to the impersonator.
As stated in the tweet, Tranchess only offers liquid staking for BNB and ETH and is not affiliated with the validator on Core DAO. Accepting the protocol’s Twitter statement, Core DAO also retweeted to its community.
It’s no coincidence that the fake Tranchess validator had the highest reward rate. At one point, the rate was over 5,000%, which is way above the average rate of 50% on Core DAO’s staking platform. Fortunately, the Tranchess Validator is inactive, and users should resist the urge to delegate their holdings.
Visit the Core DAO staking portal to view all active validators. You can also read our article HERE to learn how to stake CORE and earn rewards.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem’s history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
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Author
Utulu Hope
Utulu Hope
UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer. He hodls mostly in Ethereum, BNB, and, Avax.
