As MultiversX user, i want to be protected from scam tokens

As MultiversX, xExchange and xPortal user, i want to be protected from scam tokens , so I will be able to securely burn them and be informed about the risk i am taking if i will manipulate them and send them to another récipient.

Like for NFT, a burning address should be available as possible available known recipients (or from a menu in the MultiversX landscape: xExchange , xPortal, …) to which I could send scam tokens for burning without getting its associated smart contract enabled and my wallet content compromised by it.

Also xExchange, xPortal, MultiversX wallet should offer the possibility to sign the creation of ESDT token names/ids like for softwares so you will be sure that the token you are using is well known by the ecosystem. In case of you manipulate an unknown or dcam token then you get a warning about the risk you are taking except if you are sending it to the trash address.

We could imagine known tokens to be signed by different entities or by an organization having declared his postale/legal address, a KYC like mecanism: KYT (KNOW YOUT TOKEN) or KYP(KNOW YOUR PROJECT).

Then again in all landscape preference(xPortal, MultiversXwallet,…), I could select or unselect “Accept unsigned tokens” ! If unselected, people trying to send you some unsigned esdt tokens, should see their transactions failing…

All these options will help to get more attractions from massive end-users and Institutuinal organizations or Ue approval

1 Like

Hi @zoracel ,

Welcome to the xExchange Agora!

This is an interesting topic you raised here! To my knowledge, there is no risk of transferring an ESDT token, even from a scam project.

The conversation not being specific to xExchange but more to the MultiversX protocol and this Agora being to xExchange only, I am going to close this thread, but feel free to reopen it on MultiversX Agora: