Security firm says “59% of new cryptocurrencies launched this year are malicious tokens”
Coindesk cited data from Web3 security firm BlockAid, which found that 59% of newly launched cryptocurrencies this year are malicious in nature. “Of these, rug-pulls (scams) account for 27%,” BlockAid said. “This year's cryptocurrency fraud losses amounted to $1.4 billion, a significant decrease from the previous year ($5.6 billion).”