1/ We asked our threat intel team to investigate the $PUMP token frenzy.
🧵What they found should concern all security analysts and engineers:
2/ Scam Vector #1: Over 2,400 malicious “$PUMP” tokens launched, many designed as honeypots or rugpulls to trick users into buying the wrong coin.
3/ Users using @Uniswap and @Backpack are protected by Blockaid.
4/ But scammers look elsewhere to push their fake tokens.
They find ways to reach unprotected users through social ads and Telegram groups that push fake links, hoping to trick someone into connecting their wallet.
5/ Scam Vector #2: Malicious dApps.
These fake websites pose as official apps, but are actually wallet drainers in disguise. They trick users into connecting their wallets.
6/ Most dApp attacks happened on July 12th when the token pre-sale occurred.
During this ICO period, Blockaid was blocking around 500 users per day from falling victim to these scams.
7/ On the day of the $PUMP launch, Blockaid stopped 1,016 unique attacks and prevented $381,000 in user assets from being drained.
These were live wallet interactions across multiple chains that would’ve otherwise succeeded.
8/ Over the past 2 weeks, Blockaid has blocked more than 6,700 attacks (averaging ~500 threats per day.)
This includes both malicious token and dApp exploits targeting users during the $PUMP rush.
9/ With every viral token launch, malicious actors follow.
Exchanges and wallets are on the frontlines whether they realize it or not. Watch closely and stay safe.
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