Data from the latest Solidus Labs report on rag money scams estimates that 8% of all Ethereum network tokens and 12% of BNB China tokens are scams; A significa figure that has affected nearly 2 million investors in 2022.
According to CryptoSlate, in this report, Solidus Labs takes io accou data from January 1 to December 1, 2022 (January 11, 1400 to December 10, 1401) and also shows that more than $11 billion in Ethereum transactions were directly related to fraudule tokens. Or they were part of the money laundering process of money laundering.
Based on this data, Solidus Labs estimates that 8% of all Ethereum tokens are programmed to run rogue money.
Assessing the amou invested in these tokens, the report also shows that BNB China hosts the largest number of fraudule tokens, accouing for 12% of all tokens in the network.
Also read: How to ideify RugPull projects?
117,629 fraud tokens in 2022
The report confirms that research conducted in the cryptocurrency industry has ideified 24 rogue money cases in 2021 and 262 cases in 2022. However, Solidus Labs Threat Ielligence smart coract threat scanning tool has detected more than 200,000 fraudule tokens between September and December 2020.
This tool has ideified 83,268 fraudule tokens between January and December 2021 (December 9 to December 14, 2021). The number of these tokens recorded a 41% increase in the first 11 mohs of 2022 and increased to 117,629.
A more widespread damage than the collapse of FTX and Terra
Solidus Labs has compared the impact of these fraudule tokens to major eves of 2022, including the crash of Terra that initiated the bear market, as well as the collapse of the FTX exchange.
The results of this report indicate that 1.93 million investors have lost their capital due to fraudule tokens. This number is more than the total number of investors who were affected by the collapse of Terra and FTX.
Regardless of the impact of fraudule tokens, the FTX exchange crash has had the biggest impact on the cryptocurrency industry, affecting more than a million investors. The Celsius and Blockchain bankruptcies are in second and third place, affecting 600,000 and 572,000 investors, respectively.
Considering the significance of these numbers, Terra’s collapse almost seems like a minor crisis, as it only affected nearly 40,000 investors. Of course, the consequences of the collapse of the Terra network cannot be underestimated just by citing these statistics.
The share of ceralized exchanges
According to this report, 99% of these fraudule tokens are not detected using common approaches. These frauds have preferred to be based in ceralized exchanges and have managed to deposit and withdraw funds from 153 differe ceralized digital currency exchanges.
Also, this report provides a breakdown of the exchanges in question. Based on this data, ceralized exchanges based in the United States accoued for the largest share of fraudule tokens with around $3.75 billion.
The coury of Seychelles, located in the east of the African coine, is in second place with just over $2 billion, while the Bahamas is in third place with $500 million.
