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More Than 500 Scam Tokens Detected on Coinbase's Base Blockchain


More than 500 scam tokens have reportedly been deployed by developers on Base, the new blockchain launched by crypto exchange Coinbase.

These efforts have resulted in scammers pocketing around $2 million, Bloomberg reported Wednesday (Aug. 16), citing figures from New York-based crypto market integrity platform Solidus Labs.

Coinbase did not immediately reply to PYMNTS’ request for comment.

A company spokesperson told Bloomberg: “We encourage consumers to do their research diligently before participating in any dapp [decentralized application], on Base or any other chain, just as they would on the open internet.”


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