{"id":74261,"date":"2023-02-17T14:09:30","date_gmt":"2023-02-17T12:09:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74261"},"modified":"2025-09-09T19:02:44","modified_gmt":"2025-09-09T16:02:44","slug":"chainalysis-nearly-10000-tokens-used-in-pump-and-dump-schemes","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/chainalysis-nearly-10000-tokens-used-in-pump-and-dump-schemes\/","title":{"rendered":"Chainalysis: Nearly 10,000 tokens used in pump-and-dump schemes"},"content":{"rendered":"<p>In 2022, cryptocurrency investors invested $4.6 billion in the purchase of tokens believed to be part of <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-pump-and-dump\">Pump &#038; Dump<\/a> schemes. According to a <a href=\"https:\/\/blog.chainalysis.com\/reports\/2022-crypto-pump-and-dump-schemes\/\">Chainalysis<\/a> report.<\/p>\n<p>Organisers of pump-and-dump schemes create hype around an asset to attract investors, while secretly selling their stake at inflated prices.<\/p>\n<p>Analysts found that more than 9,900 tokens launched on the networks <span data-descr=\"the parallel blockchain BNB Chain, which enables creating smart contracts\" class=\"old_tooltip\">BNB Smart Chain<\/span> and Ethereum last year were created solely to carry out such fraudulent activities.<\/p>\n<p>The most prolific in applying the scheme was an unnamed company that issued 264 such tokens.<\/p>\n<p>Chainalysis considered an asset a potential Pump &#038; Dump if within a week after launch it had at least 10 swaps and four consecutive days of trading on <span data-descr=\"decentralised exchanges\" class=\"old_tooltip\">DEX<\/span>. Of the 1.1 million new tokens issued in 2022, more than 40,500 meet these criteria.<\/p>\n<p>If the token price in the first week fell by 90% or more, Chainalysis considered this an additional factor supporting its use in pump-and-dump schemes. The firm found that 24% of the 40,500 analysed coins meet the secondary criterion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/23ef90df-e2fa-4eb9-b2a5-418e6aa33999.png\" alt=\"Chainalysis: nearly 10,000 tokens used in pump-and-dump schemes\"\/><figcaption>Analytical breakdown and the number of allegedly fraudulent tokens. Data: Chainalysis.<\/figcaption><\/figure>\n<p>Chainalysis estimates that behind the analysed fraudulent tokens are 445 individuals or groups, indicating they launched several projects. Their total profit from selling their assets amounted to $30 million.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;It is possible that, in some cases, token issuers did everything possible to create a healthy supply, and the subsequent price drop arose from other market circumstances,&#8221; the firm added.<\/p>\n<\/blockquote>\n<p>However, in a separate report, the analytics firm noted that revenues from cryptocurrency scams fell by almost half in 2022, mainly due to declines in digital asset prices.<\/p>\n<p>Earlier in September 2022, crypto investor and blogger Lark Davis was accused of <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-blogger-lark-davis-accused-of-participating-in-pump-dump-schemes\">repeated involvement in pump &#038; dump schemes<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2022, cryptocurrency investors invested $4.6 billion in the purchase of tokens believed to be part of pump-and-dump schemes.<\/p>\n","protected":false},"author":1,"featured_media":74262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[274,1154,1252,596],"class_list":["post-74261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-chainalysis","tag-crimes","tag-reports","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74261"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74261\/revisions"}],"predecessor-version":[{"id":74263,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74261\/revisions\/74263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74262"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}