Aliyev, Nihad; Allahverdiyeva, Inji; Putniņš, Tālis J. - 2023
Decentralized exchanges (DEXs) are gaining popularity, allowing investors to trade cryptocurrencies through liquidity pools. We find that about 44% of major DEX liquidity pools are scams, resulting in approximately $1.5 billion in investor losses. Scammers display specific traits, including...