Defrauding millions of investors due to 350 Scam Token Created everyday

Nearly 350 tokens and 118,000 scam tokens were deployed from the start of January through the end of November.

According to Rug Pull Report 2022, there were 117,629 scam tokens from the year 2022 the data reported a 41% increase from the near 83000 in 2021. there were more than 350 tokens every day in 2022 the current number is astronomically higher than the 1548 scam tokens in 2020.

As per the report BNB Chain is home to the most fraudulent tokens. moreover, 12% of all BEP-20 tokens are fake. the Ethereum network came in second with a supposed 8% of ERC 20 crypto coins being scams.

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