Crypto investors spent $4.6B buying ‘pump and dump’ tokens 

Crypto investors spent $4.6B buying ‘pump and dump’ tokens - Check out the story here

[{"selector":"#anim-e9c6d83d-8923-4583-99c4-d69bdf36f6de [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Nearly 10,000 tokens launched on BNB and Ethereum last year are suspected to have been created just to dump on investors, according to Chainalysis. Arrow

Cryptocurrency investors funneled as much as $4.6 billion into crypto tokens suspected to be part of “pump and dump” schemes in 2022.

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A Feb. 16 report from blockchain analytics firm Chainalysis “analyzed all tokens launched” in 2022

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[{"selector":"#anim-2378690d-52ae-49e8-81a7-583dc7a07a3e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Chainalysis estimated investors spent $4.6 billion worth of crypto buying the nearly more than 9,900 different suspected fraudulent tokens it identified. Arrow

If a token from this group saw a price decline in the first week of 90% or greater, Chainalysis deemed it likely the token was a “pump and dump

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Chainalysis estimated that just 445 individuals or groups are behind the suspected pump-and-dump tokens

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[{"selector":"#anim-09f6da86-8a7e-4da7-bd62-aabc50940dee [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.63390892262842%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Despite the concerning statistics, in a separate report, the firm noted revenues from crypto scams were cut almost half in 2022 largely due to depressed crypto prices Arrow

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