Over 60% of crypto press releases linked to high-risk or scam projects, study finds

A new report from Chainstory analyzing 2,893 crypto press releases found that over 60% came from projects exhibiting 'classic red flags,' such as anonymous teams, unrealistic claims, or being outright scams confirmed by blacklists. Crypto press release distribution services often guarantee placement on numerous websites with little oversight, allowing questionable projects to bypass third-party scrutiny and create an illusion of legitimacy by appearing alongside verified news. Researchers noted that only about 2% of releases reported meaningful news like venture funding, while the core mechanism relies on 'piggybacking' off the credibility of distribution platforms rather than meeting editorial standards. This practice muddies the line between reporting and promotion, giving unproven projects an unearned veneer of legitimacy.

(Source：CoinDesk)