According to blockchain risk monitoring firm Solidus Labs, over 350 fake cryptocurrency tokens were created per day this year which defrauded millions of investors. From the beginning of the year to Dec. 1, over 117,629 “scam tokens” were deployed, as per Solidus’ 2022 “Rug Pull Report.” This figure indicates a 41% increase from the nearly 83,400 scam tokens that Solidus detected in 2021.