Is KFC Really Accepting Dogecoin Now?

A post on Twitter regarding a branch of Yum! Brands Inc.’s YUM subsidiary KFC accepting payments in Dogecoin DOGE/USD has turned out to be fake.

What Happened: Mishaboar, a prominent name in the Dogecoin community, took to Twitter to say the account that tweeted the news about a KFC branch in Utah accepting Dogecoin was fake and the "scammers" have changed their Twitter handle.

However, the Twitter handle that posted the news apologized for a “joke taken too far” and denied it was a scam.

See Also: How To Buy Dogecoin (DOGE)

Why It Matters: The latest incident throws the spotlight on rising cryptocurrency scam activity on Twitter’s social media platform.

Cryptocurrency scams — particularly by impersonators of Tesla Inc. TSLA CEO Elon Musk, Ethereum ETH/USD co-creator Vitalik Buterin and other notable figures — have been widespread in recent years on Twitter.

The scammers typically ask Twitter users to send cryptocurrencies like Dogecoin, Ethereum or Bitcoin BTC/USD to specific wallet addresses, promising to multiply the cryptocurrency that investors send.

Musk had recently agreed to a comment by Dogecoin co-creator Billy Markus that Twitter needs to curb cryptocurrency scam activity on its platform.

Meanwhile, the Dogecoin and Shiba Inu SHIB/USD communities have been clamoring for fast-food chains to accept the two cryptocurrencies as payment options. This is not the first time that there are rumors of KFC accepting Dogecoin are spreading on social media.

Price Action: Dogecoin is down 12.5% during the last 24 hours, trading at $0.1149 at press time.

Read Next: Dogecoin Core Developer Ross Nicoll Leaves Project Citing Stress

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsMarketsdogecoinMeme Coins
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!