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Spam Cleaner: Tackling NFT and Token Spam and Scams

Cryptio is committed to ensuring our users a seamless and secure experience in the ever-evolving crypto landscape. As part of this commitment, we are introducing advanced machine learning-driven spam detection capabilities to combat the growing problem of NFT and token spam.

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What are spam and scams?

Check out our blog to learn more about fungible and non-fungible token spam and scams. 

Why is spam detection important?

NFT and ERC-20 Tokens Spam Detection

NFTs have witnessed widespread adoption, making them a prime target for spammers and scammers. We acknowledge the following issues:

  1. Rising NFT and ERC-20 Spam: With the increasing popularity of NFTs and liquidity pool tokens, spams have also surged, affecting user experience.
  2. User Confusion: End-users often find themselves puzzled and frustrated by unfamiliar and low-quality NFTs and confusing ERC-20 flooding their feeds and wallets.
  3. Malicious Content: A significant concern arises when spam NFTs ERC-20 tokens contain dangerous links to external sites or malicious resources.
  4. Proliferation on Popular Networks: Spam NFTs and ERC-20 tokens tend to spread rapidly on networks with lower transaction fees, particularly on Polygon and Solana.

How does spam detection happen in Cryptio?

Cryptio has developed a proprietary algorithm to detect potential spam. It uses a machine learning process and constantly expands its reach to identify more fake assets.  

A. Automatic Spam Flagging (on an Asset level): Introducting Potential Spam Reviews an automated process to identify transactions and label spam NFTs and ERC-20 tokens.

  • Navigate to the Assets module on the side navigation bar
  • Under the Overview tab, find Potential Spams Review
  • In the view, we have flagged all the potential spam. Users can individually or in bulk, mark or unmark them as spam
  • By marking them spam, a Spam label will be applied to the asset and the value of the asset will be set to 0 to not impact the portfolio balance. 

💡 Note

  • If a user marks an asset as spam, the asset is removed from potential spam at the workspace level.
  • if any client marks an asset as spam, the price will be set to 0 for the entire history. It does not apply only to new transactions.
  • Workspaces that existed prior to the release will have some spam with missing valuation or price that are not 0 historically, and it's up to the user to update the price of these assets retroactively or not.

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B. Default Filtering (on a transaction level): It filters out identified spam NFTs and ERC-20 tokens from the Transactions to improve user experience.

  • Navigate to the Transactions page on the side navigation bar
  • Select Filter
  • Switch on the Filter out SpamPotential spam filter.gif toggle 
  • This way all transactions that have Spam labeling will be hidden from your view for a better workspace experience.


C. Dashboard and Module Filtering: Ensure spam NFTs and ERC-20 tokens are filtered out from the Dashboard, NFT Module, and Audit readiness modules (if applicable).

  • For the Dashboard and NFT module, spam is filtered out by default. Customers don't need to do anything. If you still see any spam assets, feel free to reach out to the Support team. 

For Audit readiness module users (Enterprise only)

  • Navigate to the Data integrity module on the side navigation bar
  • Under Prices and/or Balances sanity check, switch on Exclude spams from the app under Spam Treatment to remove spam from your work. 

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Support is available for all asset types on Ethereum, BSC, and Polygon for now. Our team is constantly working on expanding this feature. 

How to use the Potential Spam Report? 

The Potential Spam report is an audit trail of all your spam assets and actions, e.g. mark or unmark as spam), the price change to 0 so as not to impact gain/loss, or portfolio balances.

We recommend users check the potential spam before every month-end close. For Audit readiness module users (Enterprise only) complete the Potential Spam Review in the Controls checklist.

To generate the report:

  1. Navigate to the Asset module > Potential Spam Reviews
  2. Select the Potential Spam Reviews Report on the top right button
  3. Go to the Reports tab on the side navigation bar
  4. Download the report

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What to do if some tokens are not detected as spam or scams just yet? 

All NFT and ERC-20 token spams should be automatically labeled in your workspace. In the situation that some have slipped through the detection, there are a few things you can do:

  • If you are not sure if your workspace has automatically applied the Spam Cleaner, the first thing you can do is update your wallets. Then the spam labels will surely be applied.
  • You can always manually bulk-label transactions as spam or create a unique spam label for those types of transactions. 
  • Finally, reach out to the Customer Support team and we are more than happy to help with your spam issues. 

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With the Spam Cleaner, we are committed to improving our platform's safety and user experience. By implementing sophisticated spam detection mechanisms for NFTs and ERC-20 tokens, we aim to provide a secure environment for all Cryptio users. If you have any questions or need assistance with the Spam Cleaner feature, please feel free to contact our support team.