Very Network has issued an urgent warning after a counterfeit version of its native $VERY token surfaced on a Solana-based decentralised exchange (DEX), cautioning users that the asset has no connection to the project.
In a statement shared on X, the team said the fake token is using the Very Network name to mislead traders. The project stressed that its official $VERY token is not listed on any centralised or decentralised exchange and currently exists only on its native blockchain, VeryChain.
🚨 Scam Token Warning
A token impersonating VERY Network has appeared on a Solana DEX. It is NOT official — someone stole the VERY name.
▫️ VERY is NOT listed on any CEX or DEX
▫️ VERY currently exists only on VERY Chain
▫️ Any “VERY” on another chain or exchange is fake…— Very Network (@verylabs) June 29, 2026
The warning comes as fake tokens and copycat projects continue to target crypto users searching for newly launched assets or potential airdrops.
What did Very network say about the fake token?
According to the project, any $VERY token found on Solana or any other blockchain outside VeryChain should be treated as fraudulent.
“The token is not official. Someone stole the VERY name,”
the team said, adding that users should avoid buying, trading or connecting their wallets to platforms promoting the fake asset.
Very Network also released a Korean-language version of the alert to ensure the warning reached its wider international community.
Why are fake tokens becoming a bigger problem?
Token impersonation remains one of the most common scams in the cryptocurrency market. Fraudsters often create tokens with names that closely resemble legitimate projects before listing them on popular decentralised exchanges.
These scams are particularly common on fast and low-cost blockchain networks, where anyone can deploy a token within minutes. Unsuspecting investors may mistake these assets for official releases, exposing themselves to financial losses or malicious wallet-draining schemes.
Binance co-founder Yi He publicly warned crypto users about an alleged impersonator named Zhu Pan, prompting the crypto derivatives exchange CoinUp to deny reports linking the individual to the platform.
Where is the Real $VERY token available?
Very Network said the genuine $VERY token operates exclusively on VeryChain, an Ethereum-based blockchain that uses a Proof-of-Authority (PoA) consensus model secured by Node NFT validators.
At the time of the warning, the project confirmed that the token has no official listings on external trading platforms. Its utility remains tied to the VeryChain ecosystem, including validator rewards, hackathon incentives and ecosystem development.
The team urged users to rely only on official announcements, blockchain explorers and verified communication channels to confirm the authenticity of any future $VERY token listings.
Enjoyed this? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads, and CoinMarketCap Community for seamless access to high-quality industry insights
Take control of your crypto portfolio with DEFI PLANET PRO, DeFi Planet’s suite of analytics tools.
