HomeUncategorized350 new ‘scam tokens’ were created every day this year: Solidus Labs By Cointelegraph

350 new ‘scam tokens’ were created every day this year: Solidus Labs By Cointelegraph

December 20, 2022

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More than 350 fraudulent cryptocurrency tokens were created per day this year, defrauding millions of investors, according to blockchain risk monitoring firm Solidus Labs.

From the start of the year to Dec. 1, 117,629 “scam tokens” were deployed, according to Solidus’ 2022 “Rug Pull Report.” That’s a 41% increase from the nearly 83,400 scam tokens that Solidus detected in 2021.

Solidus claims that 2022 is the biggest year on record for fraudulent crypto tokens. Source: Solidus Labs
FTX, Celsius, BlockFi and Voyager bankruptcies are estimated to affect over 2.3 million users combined. Source: Solidus Labs