Is Backpack a scam?
LOW RISK · 23/100Backpack (BP) has an automated risk score of 23/100 — low risk. Backpack has a low free float: about 25% of total supply is circulating and an estimated 75% is not. This is an estimate from reported supply figures, not a reading of who holds the tokens; non-circulating supply typically includes treasury, vesting and reward allocations.
Automated assessment · updated 18 October 2026
Backpack
bpLOW RISK$1.048
+5.07% (24h)
updating live price…
Risk Assessment
Risk Score
LOW RISK
Driven primarily by supply structure (11 of 20 points). Every contributing factor is itemised below.
measured 2026-10-18 · 6 factors evaluated
Here is what the public data shows about Backpack, ordered by how strongly each factor contributes to the score:
- Supply Structure: 25.0% circulating (~75% off-market) — a large share is still to be released.
- Volume Anomaly: Very low volume (1.68% of MCap) — thin trading, so larger positions may be hard to sell near the quoted price.
- Price Volatility: 5.1% swing in 24h — moderate volatility.
- Drawdown From All-Time High: Down 36% from its all-time high — within normal speculative range.
These are automated, opinion-based indicators from public data — not financial advice or an allegation of wrongdoing. See our methodology.
Why this asset is flagged as high-risk
The patterns below are automated, opinion-based observations from public market data. They describe statistical risk indicators — not proof of wrongdoing by any project or person.
A small share of total supply is circulating (estimated from reported supply figures, not from holder data). The price is set by that small share
Risk Factor Breakdown
Each factor is scored independently and weighted to calculate the total risk score.
Drawdown From All-Time High
Price Action
2/25
8%
How far the price sits below its peak. Deep drawdowns are common to abandoned and post-collapse tokens, but also to assets in a prolonged bear market — on its own this measures price history, not conduct.
Volume Anomaly
Trading Signals
8/20
40%
24-hour volume compared with market cap. Very high turnover can reflect genuine news-driven trading or inflated volume; very low turnover means the price is rarely tested. We measure the ratio and cannot attribute it to any party.
Supply Structure
Tokenomics
11/20
55%
Free float (circulating vs total/max supply). A low float means much of the supply has yet to reach the market, so the price is set by a small share of it and future releases could dilute holders. Estimated from reported supply; holder data read from the chain is scored separately.
Price Volatility
Price Action
2/15
13%
24-hour price change. Large one-day moves happen for many reasons, including news and thin liquidity; this measures the size of the move, not its cause.
Not contributing (2): Market Cap Risk, Transparency Gaps — 0 points.
Key Metrics
Protect Yourself
- • Never invest more than you can afford to lose entirely
- • Check token concentration — if top 10 wallets hold >50%, be cautious
- • Verify the team is public and doxxed
- • Read the smart contract audit before buying
- • Be wary of unrealistic APY promises
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Community Comments
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Backpack holder-concentration history
0 dated measurements
FraudCoins.com has recorded 79 dated measurements for Backpack since 29 Jul 2026.
Composite risk score (0–100)
Each row is an automated measurement taken on the date shown, using public on-chain holder data with burn and labelled exchange, staking, bridge and liquidity wallets excluded. Historical readings describe what our model measured on that date — they are not statements about the project’s conduct then or now, and are not financial advice.
No on-chain holder measurement for Backpack
The score above is derived from public market data only. We have not measured this asset’s top-10 holder concentration — our on-chain scan covers ERC-20-style tokens on seven EVM chains above $50M market cap, so native coins (such as Bitcoin) and tokens on unsupported chains are out of scope. The absence of a concentration figure is not a clean bill of health — it means the check was not performed.
You can run the same analysis yourself on any contract address with our free token checker, or read exactly what we measure in the methodology.
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Frequently asked questions about Backpack
Is Backpack a scam?
We do not allege that Backpack (BP) is a scam, and we have no evidence of wrongdoing by anyone associated with it. What we can tell you is what we measured: We have no on-chain holder measurement for it, so the score is based on market data alone. That places it at 23/100 on our automated scale, which we label low risk. A high score means the asset has structural characteristics that have historically preceded losses — not that fraud has occurred. These are automated, opinion-based indicators from public market and on-chain data — not statements of fact, financial advice, or allegations of wrongdoing.
Why is Backpack flagged as low risk?
Backpack's risk score is driven mainly by: supply structure — 25.0% circulating (~75% off-market) — a large share is still to be released; volume anomaly — Very low volume (1.68% of MCap) — thin trading, so larger positions may be hard to sell near the quoted price; price volatility — 5.1% swing in 24h — moderate volatility.
Is Backpack safe to buy?
FraudCoins.com does not give buy or sell recommendations, and no cryptocurrency is safe. Backpack scores 23/100 (low risk) on our automated risk model. Always do your own research and never invest more than you can afford to lose.