According to the 2022 Rug Pull Report by blockchain risk monitoring company Solidus Labs, more than 350 fraudulent cryptocurrency tokens have been created every day this year, harming millions of investors. Data shows that a total of 117,629 "scam tokens" were deployed from the beginning of the year to December 1. This is a 41% increase compared to the nearly 83,400 scam tokens detected in 2021. The report stated that the most prolific "honeypot" successfully executed in 2022 was the $3.3 million Squid Game (SQUID) token scam, which grew 45,000% in a few days because investors bought the hype but were unable to sell it, and eventually ended with the anonymous founder apparently running away with investors' funds. (Cointelgraph)
