Gather around, readers. Let me tell you a tale of rug pulls and scams for 2022. According to Solidus Labs, there was an estimated 350 scam tokens/rug pulls created on a daily basis since January 2022 to December 1st, which equates to 117,629 scams for the year so far. This is a 41% jump over 2021 where 83,400 token scams were deployed. The report also claims that BNB Chain has the greatest number of scam tokens, with 12% of all BEP-20 tokens being fraudulent. In second place is Ethereum, with 8% of all ERC-20 tokens beings scams.
One piece of advice to those who are new to the crypto game…ALWAYS DO YOUR OWN RESEARCH. If it’s too good to be true, then it probably is! Use tools such as CoinGecko to understand if the token you’re interested in is truly a scam or not. Also, Google is your best friend, as there are countless articles highlighting how one can tell rug pulls from legit tokens!
Written by: nikethereum.eth / Medium / Mirror
Gather around, readers. Let me tell you a tale of rug pulls and scams for 2022. According to Solidus Labs, there was an estimated 350 scam tokens/rug pulls created on a daily basis since January 2022 to December 1st, which equates to 117,629 scams for the year so far. This is a 41% jump over 2021 where 83,400 token scams were deployed. The report also claims that BNB Chain has the greatest number of scam tokens, with 12% of all BEP-20 tokens being fraudulent. In second place is Ethereum, with 8% of all ERC-20 tokens beings scams.
One piece of advice to those who are new to the crypto game…ALWAYS DO YOUR OWN RESEARCH. If it’s too good to be true, then it probably is! Use tools such as CoinGecko to understand if the token you’re interested in is truly a scam or not. Also, Google is your best friend, as there are countless articles highlighting how one can tell rug pulls from legit tokens!
Written by: nikethereum.eth / Medium / Mirror
This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
<100 subscribers
<100 subscribers
Share Dialog
Share Dialog
No comments yet