According to a recent survey by CertiK, a blockchain security company, the number of cryptocurrency exit scams dropped by 62% last month.
According to blockchain security company CertiK, the number of reported crypto exit scams in September was almost half of what it was in August 2023. Compared to the 45 crypto exit scams discovered in August, just 17 were discovered by CertiK Alert in September. The number of reported exit scams dropped by nearly 62% over the previous month.
According to statistics acquired by CertiK, the average loss per exit scam in September was $111,000. In 2023, this was the least amount of money lost on each exit scam. In addition, September had the lowest monthly total of exit scams for all of 2023. An estimated $1.9 million was lost to exit scams in the previous month.
After an initial coin offering (ICO), the creators or promoters of a cryptocurrency project may vanish, taking the investors’ funds with them. In September 2023, a crypto startup called DUO stole approximately $352,000 from investors before disappearing. The next highest was Memans VIP at $264,000, then DKP at $204,670, and finally BitGo at $194,608.
Earlier today, CertiK Alert also issued a warning about multiple fake cryptocurrency airdrops. Among them were promotions on social media platforms like X (previously Twitter) for a bogus ArchimedesFi airdrop and a bogus Tip Coin airdrop. Users are sent to a well-known wallet drainer, which is said to steal users’ crypto assets, via the websites advertising these airdrops.
Based on data provided by CoinMarketCap, the value of the TIP token linked with Tipcoin has dropped by approximately 14% in the last 24 hours. Amid daily trade volume of over $1.3 million, the token was trading at $0.00024 at the time of writing.
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