10-19, 13:30–13:35 (Europe/Luxembourg), Salle Europe
A Tool to Detect Fraudulent Token Contracts on Ethereum Blockchain
Smart contracts have demonstrated new ways to manage and trade digital assets, conduct financial transactions, and transform business processes. Several concepts have emerged to enable investors to own or trade digital assets. Trading platforms relying entirely on decentralized, known as decentralized exchanges, allow unrestricted financial transactions to exchange digital assets. Beyond the opportunities offered, using the decentralized environment remains complex to understand by most of its users, consequently giving adversaries opportunities to benefit from investors based on scamming schemes. The cryptocurrency market is damaged by malicious actors that aim to drain investor funds via scamming token smart contracts. This research paper initially highlights related problems with fraudulent token contracts. Further, it proposes a solution for identifying several fraudulent schemas in the crypto ecosystem via a dynamic algorithmic solution supported by the SC Analyzer tool based on real-time data.
