This content is for educational purposes only and should not be considered financial advice or an inducement to buy, sell, or trade cryptoassets.
The Portfolio Tab in the Magic Eden App allows you to view and manage your tokens seamlessly. By design, the app displays all tokens associated with your on-chain address, including legitimate assets as well as scam tokens that may appear unsolicited.
How tokens are displayed
Token sorting: Tokens are arranged by their USD value, ensuring that legitimate, high-value tokens appear at the top.
Complete visibility: While this helps track your portfolio, it also means that scam or junk tokens might be visible in the list.
Scam tokens: What you need to know
Scam tokens are often sent to wallet addresses randomly. They are part of phishing attempts to deceive users into interacting with them, which can compromise security or result in loss of funds.
Avoiding scam tokens in the Portfolio Tab
Scam tokens may appear in your Portfolio List because the Magic Eden Wallet automatically detects all tokens associated with your on-chain addresses. While these tokens can’t harm your wallet if left untouched, interacting with them can expose you to risks.
What You Can Do:
Hide Scam Tokens: Use the Edit Portfolio List feature to hide suspicious or unwanted tokens from your portfolio view. This ensures a cleaner and safer browsing experience.
Avoid Interaction: Do not attempt to transfer, sell, or interact with tokens you do not recognize. Scam tokens often have malicious smart contracts attached that can compromise your wallet.
Focus on Verified Assets: Always confirm a token’s legitimacy through trusted sources, such as CoinGecko, CoinMarketCap, or official project websites.
By staying vigilant and following best practices, you can confidently manage your portfolio without falling prey to scams. If you need help, reach out via our Help Center—just use the chat widget.