3 “SEC” ERC20 Tokens You May Want to Avoid

Everyone in the world of cryptocurrency knows all too well how the SEC is looking into cryptocurrencies and ICOs. As such, it makes virtually no sense for anyone to create an ICO token known as SEC. Surprisingly, there are quite a few of them out there, which is rather intriguing, but not necessarily for the right reasons.

3. SEC Token

It is a bit unclear what the purpose of SEC Token is. It seemingly serves no real purpose, even though the tokens are actively being distributed to various Ethereum addresses over and over again. It’s not exactly part of an initial coin offering, by the look of things, as the SEC Token smart contract address doesn’t contain an active balance as of right now.

The big question is why anyone would name a token “SEC”. It is not an abbreviation for anything, by the look of things. There are 1.5 billion SEC tokens set to be introduced to the masses, and it seems over 16,720 addresses already own this token as of right now. It is a very odd distribution model, but one that will certainly raise a lot of questions.

2. PonziCoin (SEC)

There are quite a few interesting ERC20 tokens out there, although most of them serve no purpose whatsoever. Given the name of PonziCoin, it is evident there is no reason to give this currency a second glance. The abbreviation of SEC will not attract a lot of positive attention either, for obvious reasons.

Similar to SEC Token, it seems this particular token is issued to Ethereum holders for no apparent reason. Its smart contract has over 990 transactions, but it does not appear to hold any Ether other than some dust as of right now. It is evident this is another project to ignore first and foremost.

1. SmartEconomy (SEC)

The only token on this list which should actually be using the SEC abbreviation is Smart Economy. It at least has a name people can pronounce without bursting out laughing. At the same time, its abbreviation is still pretty unfortunate, as calling a token SEC at this point in time – or at any point, really – is just not a good idea. 

With 210 million SEC tokens to be distributed, it seems users can get their hands on this token free of charge as well. There are no ICO products associated with this particular project as far as we can tell, but it seems we will see more of these SEC-themed tokens in the future. Whether or not that is a good thing remains to be seen.