What is a crypto pump and dump scheme? The token provides a good model for how pump and dump tokens work. Below, we attempt to quantify the scale of pump and dump schemes in cryptocurrency by analyzing all tokens launched on the Ethereum and BNB blockchains in 2022. Using this methodology, we found that 445 individuals or groups accounted for 24% of the 9,902 suspected pump and dump tokens launched in 2022. The most prolific suspected pump and dump token creator we identified launched 264 tokens that fit our criteria in 2022.