Market Manipulation May Have Hit Majority of New Ethereum Tokens in 2023: Chainalysis

It nonetheless highlights the permissionless nature of Ethereum. Anyone can conjure up an ERC-20 token with little effort, create a trading pool on Uniswap or some other DEX, trade it between themselves to create the impression of activity, and then, when a bot takes the bait and buys, pull the liquidity and profit.