Fake $PAXOS token claim page paxolaunch.live targets Pax Gold (PAXG) holders
MalwareTips warned on 2 November 2026 that paxolaunch.live offers Pax Gold (PAXG) holders a fake $PAXOS token claim and a wallet connection, in what it says was reported as a wallet-draining scheme. It did not test the page.
- First reported
- Reports
- 1
Source: malwaretips.com · published
What happened
MalwareTips published a warning on 2 November 2026 about a “PAXOS Token Launch” scam that targets people familiar with Pax Gold, whose ticker is PAXG. According to the report, a page at paxolaunch.live presents a supposed transition from PAXG to a token labelled $PAXOS and tells holders they can collect a new allocation. MalwareTips says the claim should not be mistaken for an issuer announcement and that the campaign was reported as a cryptocurrency-draining scheme. It says it did not connect a wallet, sign a request or reproduce a transfer, so the exact mechanism has not been tested.
How the scam works
The pitch is aimed at a narrow group: people who already hold a recognisable asset. That makes the offer seem earned, like a loyalty benefit or a migration, instead of a random giveaway. MalwareTips points out that Paxos's real product information identifies Pax Gold as PAXG, a token backed by allocated physical gold, and that the existence of that product does not authorise an unrelated launch page using similar names. A ticker, a gold graphic, an issuer's name or a wallet logo can all be copied.
The report says the page uses a wallet connection as the gateway to the allocation. Connecting an uncompromised wallet ordinarily reveals only an address and sets up a session, and does not by itself give permission to spend every asset. The risk lies in what follows: a misleading approval, signature or transfer request can create financial exposure even when the page describes it as a harmless eligibility check. MalwareTips says even someone holding genuine PAXG through an exchange may receive the pitch, which does not mean the sender knows their holdings.
Its advice is to treat any new token offer with caution until it has been confirmed through the issuer's established channels, to decline any wallet permission you cannot explain, and to check whether your assets sit in an exchange account or a self-custodial wallet, as recovery routes differ.
Source
MalwareTips, “PAXOS Token Launch Scam: Fake Pax Gold Claims And Wallet Drainer Warning”, 2 November 2026. MalwareTips did not test the page with a wallet.
Red flags
- A page offering Pax Gold holders a new $PAXOS token allocation on an unrelated domain, paxolaunch.live.
- A story of a transition from PAXG to a new token that the issuer has not announced.
- A wallet connection presented as the way to collect the allocation.
- A copied ticker, gold graphic and issuer name used to build trust.
- An approval or signature request that the page describes as an eligibility check.
If you were targeted
- 1Do not connect a wallet to paxolaunch.live or approve any request from it.
- 2Confirm any new token or migration through the issuer's official website and announcements, not a link in a message.
- 3Decline any wallet permission you cannot explain and never share a seed phrase.
- 4If you connected or approved something, move assets to a new wallet and revoke approvals with a trusted tool.
- 5Report the page to your exchange and the hosting provider.