A study by 5Money and Storible found that between January 2022 and October 2024, the United States had the most dead crypto projects and American founders were behind 43% of all crypto scams. China and the United Kingdom also had a significant number of scam projects. The study highlighted the need for global standards and stricter regulations to address the prevalence of scams and failed projects. Regulators in the UK, Singapore, and South Korea have already introduced measures to protect investors and stabilize the crypto industry. A previous report by AlphaQuest found that over 70% of crypto projects launched during the 2020-2021 bull run were dead by early 2024, with many shutting down after the collapse of FTX. The year 2023 was particularly tough for the crypto sector, with 60% of dead projects disappearing due to low liquidity and trading volume.



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