A new report has revealed that 24% of new digital tokens launched in 2022 were likely to be part of “pump and dump” schemes. These are fraudulent practices that artificially increase the price of a coin and then sell it quickly to make fast profits at the expense of other investors.
According to the report, tokens launched on small cryptocurrency exchange platforms that are difficult to access are the most vulnerable to these fraudulent schemes. The report also found that individuals promoting coins on social media and chat groups are playing a major role in promoting these schemes.
The report emphasizes the importance of verifying the credibility and reliability of digital tokens before investing in them and avoiding attractive offers promising large profits in a short time, so that investors do not fall victim to fraudulent schemes.
