Crypto-fraud detection platform is active

The beta version of Trust Army, a Web3 search platform that helps detect crypto-fraud, was launched some time ago.
The platform was created by Hacken.AI and has already checked 560 blockchain projects in just 98 days, during which time it has received at least 5,296 messages from users.
It is a project created specifically to increase trust in the Web3 sector, and consists of a research platform that collects reliable information about various blockchain projects to highlight the best tokenomics, which backers are trustworthy and which distributions are transparent.
It also offers people interested in the cryptocurrency sector the opportunity to contribute to its transparency by being rewarded for their efforts.
Trust Army's work is based on research missions that produce reports and consists of examining the quality of crypto projects reviewed by individual missions.

First 100 results

An infographic of the first 100 projects studied was released in late April.
The infographic shows that 17% of the reviewed projects hide their white papers, and even 34% hide their tokenomic.
In addition, only half of the reviewed projects had their smart contract audited.
That's not a good number, but it's not a bad one either. In fact, although 50% of the crypto projects have questionable smart contracts, the remaining half still passed their audits, even if there are no statistics about the quality of the auditors.
Other data that is not particularly good, but also not very bad, relate to token centralization.
About a third of the projects reviewed have whales holding more than 1% of the total token supply at their addresses, and 39% have more than 10% of the total token supply concentrated at less than three addresses. Again, these numbers aren't particularly bad overall, but they're not great either.

Conclusions about cryptocurrency

In light of this data, the Hacken.AI team argues that blockchain projects do not always prioritize transparency and security, with a large percentage of token offerings being held by just a few holders.
This unpredictably affects the sustainability and future of these projects.
Furthermore, these results demonstrate the fundamental importance of analyzing and monitoring Web3 projects, as the percentage of questionable projects is by no means insignificant.
In principle, we can say that there are too many projects of a dubious nature, even if they are not necessarily the majority, but there remain a significant number of projects that appear somewhat more transparent and safe, especially in absolute numbers.
In other words, it is not at all difficult to encounter real crypto-fraud because there are many crypto-projects, and a significant percentage of them are of a dubious nature.
However, on the other hand, there are many projects that at least appear to be transparent and safe, which suggests that this sector is more alive than ever.