**IMPORTANT: There is NO official OpenClaw or OpenClaw cryptocurrency token.** Any token claiming to be associated with the project is a SCAM.
What Happened
During the chaotic OpenClaw rebrand on January 27, 2026, crypto scammers exploited the confusion to launch fraudulent tokens:
The $CLAWD Token Scam
1. **The Setup**: When Peter Steinberger released the @openclaw Twitter/X handle to claim @openclaw, scammers grabbed the old handle within ~10 seconds
2. **The Fake Token**: A $CLAWD token was immediately launched on Solana-based meme coin platforms
3. **The Pump**: The fake token briefly reached a market cap of **$16 million**
4. **The Crash**: After Steinberger publicly denied any connection, it crashed to under **$800,000** - a 95% drop
5. **The Victims**: Many people lost money believing this was an official project token
How to Identify Crypto Scams
Red Flags to Watch For:
1. **Unofficial Announcements**
- Real announcements come from @openclaw or @steipete on X
- Check the official GitHub: github.com/openclaw/openclaw
2. **Urgency Tactics**
- "Buy now before it moons!"
- "Limited time opportunity!"
- "Early investors only!"
3. **Unverified Accounts**
- Check account creation date
- Look for verification badges
- Review post history
4. **Too Good to Be True**
- Promises of guaranteed returns
- Claims of official backing without proof
- Celebrity/influencer endorsements
Official Statement
Peter Steinberger has been clear:
> "There is no OpenClaw token. There will never be an OpenClaw token. If you see anyone selling an OpenClaw/Moltbot/Clawdbot crypto token, it's a scam. Please report it."
What To Do If You Were Scammed
1. **Document Everything**
- Screenshot transactions
- Save wallet addresses
- Record any communications
2. **Report the Scam**
- Report to the platform (Solana, exchange, etc.)
- File a complaint with your local authorities
- Report to the FTC (US) or equivalent agency
3. **Protect Your Remaining Assets**
- Move funds to a new wallet
- Revoke any token approvals
- Enable additional security measures
4. **Warn Others**
- Share your experience (without sharing personal details)
- Help spread awareness about the scam
Verify Before You Trust
Always verify information through official channels:
Why Open Source Projects Are Targeted
OpenClaw isn't the first open source project targeted by crypto scammers. The pattern is common:
1. Wait for a popular project to have a newsworthy event
2. Create fake tokens/accounts during the chaos
3. Exploit the trust built by the real project
4. Cash out before people realize it's fake
**Remember: OpenClaw is free, open source software. It doesn't need a cryptocurrency.**
Stay safe, verify everything, and spread the word.