Hackers Creating Fraudulent Crypto Tokens as Part of ‘Rug Pull’ Scams

Misconfigurations in smart contracts are being exploited by scammers to create malicious cryptocurrency tokens with the goal of stealing funds from unsuspecting users.
The instances of token fraud in the wild include hiding 99% fee functions and concealing backdoor routines, researchers from Check Point said in a report shared with The Hacker News.
Smart contracts are programs stored on the