Since the beginning of the year, scammers have launched almost 120,000 tokens
From the beginning of 2022 to December 1, 117,629 scam tokens related to rug pull schemes appeared on the market. This is about 15 scam projects every hour, according to Solidus Labs experts.
“Over the past five years, rug pull scams have grown from a minor problem to a major epidemic in which developers of fraudulent tokens have stolen billions of dollars from millions of retail investors,” the experts stressed.
The most popular type of fraudulent tokens turned out to be the so-called honeypot. In the smart contract of such a coin, the possibility of its resale by the buyer is closed. The most famous example was the Squid Game, in which investors lost $3.3 million.
