Warning of risky tokens on Ethereum Layer 2: In-depth analysis based on GoPlus Security API

With the prosperity of Web3.0, meme coins have become a popular choice for on-chain investment. However, criminals take advantage of user enthusiasm and design risky tokens for fraud. These tokens usually have characteristics such as unlimited issuance by contract creators, difficulty for users to sell, and malicious setting of blacklists and whitelists, which seriously threaten the safety of investors' funds.

In order to deal with this risk, this paper analyzes the risky tokens on five Ethereum Layer 2 networks in the past three quarters based on GoPlus Security API and real on-chain data. The results show that the number of investors and transaction amounts involved in risky tokens have increased rapidly, and the investment environment has become increasingly harsh.

Data source and analysis method

Using GoPlus Security API and DUNE statistical query tools, we scanned a total of 564,180 potential risky tokens and conducted in-depth analysis based on transaction data. The data sample period is from August 1, 2023 to May 24, 2024, with special consideration of the launch time of Blast chain.

Conclusion

With the popularity of Ethereum Layer 2 network, the risk of fraud related to meme coins continues to rise. Investors should remain vigilant and invest prudently. As the guardian of user security, GoPlus Network will provide full lifecycle transaction protection, using decentralized security networks and AI technology to provide users with intelligent and efficient security services. In the face of any security issues, GoPlus will fully support solutions.