Ethereum Scam Highlights Vulnerability of Smart Contracts, XRP Advantages Emerge

A recent crypto scam involving an unidentified token labeled ‘ETHG’ has exposed the risks associated with Ethereum’s smart contract system. An investor discovered this seemingly valuable token in his Uniswap-linked wallet without ever purchasing or interacting with it. The token, listed as ‘Ethereum Games,’ was flagged as malicious by Blockaid, a platform specializing in on-chain security. The token’s price, calculated to be over $420,000 based on its balance and last trade price, appears unrealistic due to a lack of liquidity. 80% of the reported scam’s value is derived from manipulation of the token’s price through wash trades or artificial pricing schemes.