Most crypto scams are on the BNB chain

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The crypto risk monitoring platform says it has detected nearly 200.000 crypto rug pulls and decentralized finance scams since August 8.

Near the 12% all BEP-20 standard tokens, involved in scams, according to recently published research from crypto risk monitoring firm Solidus Labs.

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The research firm says it detects 15 deployed scams every hour. In the past two weeks, they have discovered more than 188.525 smart contract scams on twelve major blockchains.

Data released in December from Chainalysis, another crypto analytics firm, stated that investors were pass away 2,8 billion dollars from rug pulls in 2021.

In its release, Solidus Labs did not explain why BNB Chain has a higher rate of contract fraud than Ethereum.

Research shows that 8% all ERC-20 tokens on Ethereum have fraud characteristics.

Since Binance has a close relationship with most of the chain's validators, the exchange can freeze some stolen funds by issuing a software update.

In 2021, a company representative said that Binance was not responsible for “rug pulls incidents” or fraud that occurred on-chain.

Solidus Labs estimates that at least 910 million dollars Scam-related ether has flowed through centralized exchanges.


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