Exciting New Stake Token Announcement and Foiled Crypto Scam

There is nothing more exciting to crypto fans than the potential that a new token holds. This attraction is especially true of cryptocurrencies with a story that potential investors can share with friends.

We have seen this countless times with meme coins like Dogecoin and Shiba Inu, which leaned into the viral doggo memes. More recently, there was an incredible amount of hype around the South Park-themed meme coin Mr Hankey, which raised an incredible $500,000 in just under 10 hours of its presale launching.

With those baselines, the real question is, why would Stake, a company not known for doing anything small, be so quiet about its new Stake Token?

 This is Not The Token You’re Looking For

Stake Casino is one of the leading crypto-gambling platforms in the world. Founded in 2017 by Ed Craven and Bijan Tehrani, the site has grown to more than 6 million registered users with an annual revenue of over $2.6 billion.

✓ Social Proof is King

Proof of not only the size but also the stellar reputation that Stake.com has in the crypto gambling industry is demonstrated by its partnership with globally praised Canadian singer and songwriter Drake. Drake transitioned from customer to fan to ambassador and frequently shares his gambling exploits with his millions of followers on social media.

✓ Slipping Under the Radar

You would expect a popular gambling brand, known for its rabid crypto-first stance, to make a big deal of the presale of its inaugural digital token. This laidback approach to its token launch was what first gave us pause. The only news appeared to be a pinned post on their social media account:

Even the destination website mentioned in the post, StakeToken.com, is not going out of its way to sell potential investors on the token.

It turns out the reason for the low-key release is that it was a scam. The new destination site used a screenshot of the Stake Casino site as a background and popped up an information block prompting would-be investors to link their MetaMask, Coinbase, Binance Wallet or Trust Wallet in order to gain access to the information on the presale and the token’s whitepaper.

The official Stake Casino social account posted a notice confirming the token is not real:

Not Everything That Bounces is Roobet

In an attempt to capitalise on the hype around these supposed Stake Tokens, scammers also created a fake Roobet Casino social media account @RoobetHQ, promoting a “Roobet token presale”:

In researching their claim, we found they were not connected to Roobet Casino, and the operator's official accounts did not mention the supposed new token. When we returned a few hours later, the fake account had been taken offline.

If you want to learn more about cryptocurrency gambling and the best sites to join, visit our casino software page and filter for Bitcoin. When looking for insights on new tokens and special events, you can always check our newsfeed, as we cover the latest gambling updates and crypto announcements.