Creating a new crypto project is dangerously easy: One needs to generate a token, pick a ticker, market it to the crypto community through coin information websites such as CoinMarketCap or CoinGecko, and then get it listed on decentralized exchanges or the thousands of new centralized crypto exchanges that will do almost anything for money.
Malicious entities can simply think of a catchy brand name or, better yet, grab a prominent brand, and sauce it with additional keywords that could make crypto beginners think it’s related to its legitimate counterpart. Because of this, the crypto market is full of tokens that have nothing to do with the name or brand they bring to mind.