- Layer 2 networks have seen a surge in activity this year, with Base leading the pack in attracting new capital.
- Despite the volatility in the crypto market, Base has witnessed a significant increase in ETH deposits over the past week.
- However, the growing popularity of Base has also led to an increase in scammer activity on the network.
As Layer 2 networks gain traction, Base emerges as the preferred choice for investors, outpacing rivals like Arbitrum and Optimism. However, the surge in popularity has also led to an increase in scammer activity on the network.
Investors Flock to Base
Over the course of this week, net ETH deposits into the Base have exceeded 6,500 ETH, marking a significant increase, according to the data shared by ITB. On the other hand, its rival Arbitrum saw just half of this figure. Optimism lagged even further behind with only a fifth of the deposits Base received. Such a trend suggests that despite the growing interest in Layer 2 scaling solutions, investors still see Base as the preferred choice for deploying their capital, possibly due to factors like its established infrastructure or perceived reliability.
Base Witnesses Surge in Scammer Activity
Scam Sniffer’s data observed that two of the top 10 largest single thefts occurred on this chain, making up 21% of the month’s total theft. Since January, scammer activity on the network has increased by almost 1,900%, resulting in approximately $170,000 stolen through phishing scams. In April, nearly 90% of the stolen assets were ERC-20 tokens.
Conclusion
While Base has emerged as the preferred Layer 2 network for investors, it’s important for users to be aware of the increased scammer activity on the network. As the platform continues to grow, it will be crucial for Base to implement measures to protect its users and their assets.
