Token Spammers, Rug Pulls, and SniperBots: An Analysis of the Ecosystem of Tokens in Ethereum and the Binance Smart Chain (BNB)

06/16/2022

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by   Federico Cernera, et al.

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In this work, we perform a longitudinal analysis of the BNB Smart Chain and Ethereum blockchain from their inception to March 2022. We study the ecosystem of the tokens and liquidity pools, highlighting analogies and differences between the two blockchains. We estimate the lifetime of the tokens, discovering that about 60 we find that 1 and 25 blockchains. We find that token spammers use short lifetime tokens as disposable tokens to perpetrate these frauds serially. Finally, we present a new kind of trader bot involved in these activities, and we detect their presence and quantify their activity in the exit scam operations.