Key Takeaways:

• Nearly 60% of all new crypto tokens launched in 2024 were deemed malicious according to Blockaid.
• The total losses from cryptocurrency scams and fraud decreased to $1.4 billion, down from $5.6 billion in the previous year.

Statistics Overview:

Blockchain security company Blockaid reported that 59% of the crypto tokens launched this year were malicious in nature.

The surge of trickster tokens correlates with the increasing popularity of memecoins throughout this cycle.

Currently, there are 10 memecoins with market capitalizations exceeding $1 billion, spurring the creation of similar tokens launched across various blockchains including Ethereum, Base, and Solana.

Rug-pull scams still pose a major threat, accounting for 27% of all malicious tokens. However, the overall monetary losses due to cryptocurrency hacks and scams have significantly decreased. According to data from the FBI, in 2023, $5.6 billion was lost to scams, whereas this year, that figure has dropped to $1.4 billion, based on Blockaid's report.

Blockaid's findings derive from an on-chain detection and response (ODR) platform that monitored a staggering 2.41 billion transactions, 780 million decentralized app connections, and 220 million tokens throughout the year.