The Pancakeswap team has warned its community to be careful about event log scams. The team said scammers are abusing Event Logs to falsify the transfers displayed on trackers like BscScan or Debank. These tokens are NOT issued by the Pancakeswap contract, as anyone can submit anything in the transaction event logs.
Hence, Pancakeswap urged its community members to desist from browsing the link displayed in airdrop tokens.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down by more than 1% today and is currently trading at $3.353.