Base Meme Coin Security Exposed: 91% Vulnerable, 1 in 6 Scams

An investigation uncovers alarming statistics regarding security vulnerabilities and scams among new Base meme coins, raising concerns for investors and highlighting the need for enhanced scrutiny and regulation in the space.

In a burgeoning trend, Base meme coins are facing increasing scrutiny due to their susceptibility to scams and vulnerabilities. Following Ethereum Layer 2 upgrade, Coinbase Base platform has witnessed a surge in user activity, paralleling the rise of meme coin speculation akin to Solana fast-paced trading environment.

However, an investigation by Magazine reveals a troubling reality: the majority of meme coins on Base exhibit security vulnerabilities, posing significant risks to users. With nearly one in five projects identified as deliberately malicious, and over 90% failing to meet fundamental security measures, the need for stricter oversight and investor protection becomes paramount.

Magazine analysis of 1,000 new Base tokens launched between March 19 and 25 sheds light on the pervasive security lapses within the ecosystem, urging caution among investors navigating the volatile meme coin landscape.

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