He said this is part of a broader transfer pattern observed from the project’s team during the past month.
EmberCN pointed out that the PENGU team has transferred over 2 billion tokens, valued at around $66.6 million, to CEXs during the past month.
Token transfers to exchanges are commonly seen as a sign that holders might be preparing to sell. As a result, the recent PENGU team movements could be viewed as a potential step toward liquidation.
The security chief pointed out that this scam is designed to manipulate users into searching for these vanity names via Solscan.
From there, victims may unknowingly click phishing links that mimic Pudgy Penguins’ branding. If users connect their wallets, they are prompted to sign malicious transactions that drain their assets.
Beau clarified that no legitimate PENGU airdrop or claim is currently active.
He also highlighted another scam involving counterfeit PENGU tokens engineered to act as honeypots. These fake tokens can trap users during swaps and steal their funds.
These events reflect the growing sophistication of crypto scams, especially during market rallies. As PENGU gains momentum, users are urged to stay alert, verify token sources, and avoid interacting with unsolicited airdrops.
