Despite increasing regulatory scrutiny and public awareness, scam tokens continue to flood blockchains like Ethereum, BSC, and Base – tricking investors with hype, then suddenly dropping in value and causing significant losses.
And the high number of scam tokens shows they remain a massive problem in the crypto space – a shocking 74 000 crypto tokens were tied to pump-and-dump schemes in 2024, according to new research from CryptoPresales.com.
Last year saw a surge in crypto token creation fueled by low blockchain entry barriers and easy-to-use tools that let practically anyone launch a token. Platforms like Ethereum, Base, and BSC made it simple and cheap to deploy new tokens with little to no oversight, opening the floodgates for innovation and scams.
According to Chainalysis’ 2025 Crypto Crime Report, more than 2-million tokens were launched in the blockchain ecosystem in 2024 and around 42% of them, or 870 000, were listed on a DEX. Despite the staggering number of new token launches, only 1,7% have been actively traded within the last 30 days. One reason there are so many inactive tokens is that many get abandoned soon after they are created because no one is interested. However, a considerable chunk is part of short-lived scams that use early hype to trick investors and then disappear, known as pump-and-dumps or rug pulls.
The Chainalysis data shows crypto markets saw no relief from these scams in 2024 with more than 74 000 tokens linked to suspected pump-and-dump schemes. Even more shockingly, this number represents a massive 75% increase from 2023 which saw over 42 000 scam tokens. Although the total number of tokens tied to pump-and-dump schemes saw double-digit growth, their share in all launched tokens matched 2023 levels, standing at around 3,5%.
Analysed by months, statistics show pump-and-dump schemes exploded in the second half of the year. In Q1, the monthly number of these scams floated between 1 500 and 2 000. By the end of April, it jumped to 3 300 and then skyrocketed to 7 000 a month later.
But the real surge started in June which saw a record 10 500 scam-suspected tokens – three times more than in the same month a year before. Although the number of pump-and-dump scams dipped slightly over the next four months, it still ranged between 7 000 and 9 000, three times higher than during the same period the year before.