More than 30 fake cryptocurrencies have been produced since PayPal announced the announcement of its new stablecoin, PayPal USD (PYUSD).

Preparing to launch PayPal USD (PYUSD) with the support of Paxos Trust, PayPal has become the new target of scammers.
Crypto fraudsters, who acted directly with PayPal's stablecoin move, produced dozens of tokens called PYUSD. In fact, a memecoin called PYUSD has seen a record $2.6 million in trading volume since its creation. Increases of up to 30,000 percent were observed in the first eight hours. However, these tokens lost a lot of value as the news effect lost its freshness.
Although the tokens called PYUSD, which attacked with the announcement of the news, gained value in a short time, most of them fell by more than 50 percent.
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