​73.3% of Q1 rug pulls happened on BNB Chain. Rug pulls and o | Altcoin Holder

​73.3% of Q1 rug pulls happened on BNB Chain.

Rug pulls and other frauds made up a small percentage of losses compared to hacks and exploits, the report stated.

BNB Chain was the king of rug pulls in the first quarter of 2023, with over 73.3% of such scams in the entire crypto ecosystem happening on the network, according to an April 4 report from blockchain security firm Immunefi.

The report, titled “Crypto Losses in Q1 2023,” investigated a variety of crypto hacks and scams in the first quarter of the year. It found that Ethereum and BNB Chain were the two largest targets for hackers and scammers, with 68.8% of total losses from these networks combined. BNB Chain, in particular, made up 41.3% of total losses from hacks and scams.