CandleFocus More Than Half of Crypto Tokens Debuted in 2024 Were Malicious: Blockaid
2024-12-19
Author: Content Editor
According to blockchain security firm Blockaid, 59% of crypto tokens introduced this year were deemed "malicious." This aligns with the growing trend of memecoins, as there are now 10 memecoins with a market cap of $1 billion or more, leading to the emergence of copycat tokens on various blockchain platforms. Rug-pull scams make up 27% of these malicious tokens. However, the amount lost to cryptocurrency hacks and scams has decreased significantly, from $5.6 billion in 2023 to $1.4 billion this year. Blockaid's data comes from their on-chain detection and response platform, which processed a large number of transactions, dapp connections, and tokens in 2024.
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