A new report from Chainstory indicates that more than 60% of cryptocurrency press releases originate from high-risk or fraudulent projects. The study highlights how distribution services enable misleading content to appear alongside legitimate news, potentially deceiving readers. Only 2% of these releases contain substantive information like funding rounds or acquisitions.
Chainstory's analysis, published on January 27, 2026, examined 2,893 crypto press releases distributed between June and November 2025. Researchers identified that over 60% stemmed from projects exhibiting classic red flags, including anonymous teams, unrealistic promises, duplicated websites, and pressure tactics on investors. Some were confirmed scams through blacklists and alerts.
Crypto-specific press wires differ from traditional ones by offering guaranteed placements on numerous sites with minimal oversight. This allows unverified announcements to blend with genuine journalism, often without disclosure. "If you stumble upon a crypto press release on a news site, odds are better than 50/50 that the project behind it is of low credibility (or worse)," the report states.
The majority of releases consisted of self-written promotions for trivial updates, token launches, or exchange listings. In contrast, just 2% covered significant developments that might warrant editorial attention. CoinDesk reached out to several press services but received no responses by press time.
At the core of this issue lies the paid model between distributors and websites: services disseminate content for fees, while sites host it without journalistic review. This setup lends undue legitimacy to dubious ventures. Even established exchanges use these channels for routine announcements, though no impropriety is implied.
"The core mechanism of the crypto press release industry is piggybacking," the study explains. "By funneling content through syndication networks, issuers avoid the ‘newsworthiness’ filter of a newsroom and instead rely on the credibility of the distribution platform."
A December 2025 incident illustrated the risks: fraudsters mimicked Circle Internet Financial (CRCL), issuer of the USDC stablecoin, to promote a bogus tokenized metals scheme linked to a malicious wallet site. CoinDesk debunked it after it spread across news platforms. The report urges clearer labeling and standards to safeguard the crypto media landscape.