In 2024, a significant amount of wash trading was observed on platforms like Ethereum, BNB Chain, and Base, estimated at $2.57 billion by Chainalysis.
Wash Trading Volumes
According to Chainalysis, wash trading volumes on platforms such as Ethereum, BNB Chain, and Base reached $2.57 billion in 2024, indicating an active presence of such schemes.
Tokens with Pump-and-Dump Traits
Nearly 5% of all tokens launched in 2024 exhibited pump-and-dump characteristics. Over 3 million tokens were launched, with about 40% traded on decentralized exchanges. Despite this, only 1.7% of tokens were actively traded in the last 30 days.
Fraud Schemes on Decentralized Exchanges
Analysts noted that nearly 90% of decentralized exchange pools involved in pump-and-dump schemes were abandoned by their creators. Some of these pools were part of coordinated efforts to defraud users.
The issue of wash trading and fraud schemes in the cryptocurrency space remains persistent. Chainalysis research highlights the need for increased security and transparency on platforms.
