Very Network has warned users that the $VERY token trading on Solana-based decentralized exchanges is not official. In a statement posted on X, the team said the real token is not listed on any centralized or decentralized exchange and currently exists only on the project’s native blockchain, VeryChain.
Team says exchange-listed versions are not authorized
According to the announcement, any asset using the $VERY name outside VeryChain should be treated as counterfeit. The team specifically said the token circulating on Solana is not an official release and accused an individual of taking the VERY name. Users were told not to buy or trade the asset and not to connect their wallets to platforms linked to it.
Very Network also shared a Korean-language version of the warning as it tried to reach its wider community. The project said users should rely on official announcements, blockchain explorers, and verified communication channels when checking token information or any claims about listings.
Fake tokens keep spreading on low-cost chains
The article noted that counterfeit tokens remain a common threat in crypto, especially for users looking for newly launched assets or possible airdrops. Fraudsters often copy the branding of real projects and issue lookalike tokens on networks where fees are low and token creation is cheap. That makes it easier to push fake assets onto widely used DEX venues in a short time.
If users mistake those tokens for a legitimate launch, the loss may go beyond a bad trade. Some schemes are tied to malicious systems that aim to drain wallets after users approve transactions or connect to suspicious interfaces. That is why the warning placed direct emphasis on avoiding wallet connections tied to the fake asset.
The real $VERY is limited to the VeryChain ecosystem
Very Network said the genuine $VERY token functions only inside the VeryChain ecosystem. The project describes VeryChain as an Ethereum-based blockchain that uses a Proof of Authority model secured by Node NFT validators. At this stage, the token’s stated use cases are limited to validator rewards, hackathon incentives, and ecosystem development processes.
The team added that, at the time of the warning, $VERY had not been officially listed on any outside trading platform. Any future listing claims, it said, should be checked only through official channels. The report also referenced a recent scam-related warning from Binance co-founder Yi He over identity fraud allegations in the crypto market, showing that impersonation and fake-asset risks remain active.