After the start of $ 72 billion in Trump even corner, the cryptography market was hit by a flow of scams, while 6,800 fraudulent tokens and 91 false Dapps quickly appeared, according to analysts.
What starts with a wave of excitement can quickly turn into chaos. The launch of the Trump Official (ASSET) Same corner in January not only caught the attention of the cryptographic community, but also opened the Pandora box as fraudsters wishing to exploit media threshing, crushing the market with false tokens and harmful applications.
On January 17, President Donald Trump Make his debut According to the official website of ideals and beliefs, its coin as a unique opportunity to express “support and engagement with, ideals and beliefs” embodied by the symbol, according to the official website of the same corner, which was presented on the Trump announcement on X.
In just 48 hours of his release, Trump reached a market capitalization of $ 72 billion, creating a “perfect storm for fraud”, analysts of the Blockchain judicial company, including the legal fury of the blockchain, Blokaid Say. However, this increase attracted not only speculators seeking to win fast males, but also malicious actors who sought to take advantage of the frenzy.
The blockchain company revealed in a research report These crooks did not waste time to capitalize on the buzz surrounding the release of the token. These malicious players quickly flooded the false tokens market, hoping to deceive investors who were impatient to jump on the train.
The report shows a 206% increase in tokens using the name “Trump” on the launch day, from 3,300 to 6,800 tokens. These crooks have created many tokens designed to imitate the piece even Trump, which makes it difficult for investors to distinguish legitimate assets from fraudulent assets.
A Blockaid spokesman told Crypto.News that the crooks had started to make “increasingly difficult for investors to distinguish legitimate and most malicious tokens”.
“(…) And this challenge is not unique to Trump. In almost all major web 3 launches, our team sees how threat actors create projects that imitate brand image and excitement of real tokens, creating confusion and exposing users at significant risks. »»
Oz Tamir, research and development of research at Blockaid
With the public wishing to buy Trump tokens, these false active workers were able to gain ground and even generate profits for the crooks behind them.
The same increase in interest was observed in malicious decentralized applications, which also experienced a strong increase after launch. The day after the money currency on the market, imitator DAPPS saw an increase of 14x, says Blockaid, adding that more than 90 false applications appeared in just 24 hours.
The Blockaid report also notes that the crooks did not stop with the Trump token. Other tokens referring to the members of the Trump family, such as “Melania” and “Barron”, also jumped by hundreds of percent, which gives the impression of a network of tokens related to the Trump brand. These tokens helped create “the illusion of an interconnected ecosystem”, explains Blockaid.
Tamir notes that the biggest peak of false tokens “was noticeable on Solana, in particular during this launch, given the prevalence of coins on the network.”
“That said, EVM networks and Ethereum were also a hotspot for scams, including false tokens and malicious DAPPs targeting EVM users.”
Oz Tamir
As the excitement around high -level launches increases, the same goes for crooks to enjoy without distrust users. Unfortunately, the decentralized nature of cryptocurrency, while empowering users, also opens the door to malicious actors to exploit the system.
In response to the overvoltage of the scam activity, Blockaid says he tried to prevent users from interacting with malicious tokens and false DAPPs. Since the launch of the Trump token, the company has revealed that it has prevented hundreds of users from engaging with fraudulent assets.