Is Spell a scam?
LOW RISK · 29/100Spell (SPELL) has an automated risk score of 29/100 — low risk. No single factor dominates Spell's assessment — the score reflects several converging measurements. Down more than 99% from its all-time high — among the deepest drawdowns we measure. Market cap under $100M — mid-sized; large trades can still move the price.
Automated assessment · updated 22 October 2026
Spell
spellLOW RISK$0.00008566
-1.22% (24h)
updating live price…
Risk Assessment
Risk Score
LOW RISK
Driven primarily by drawdown from all-time high (25 of 25 points). Every contributing factor is itemised below.
measured 2026-10-22 · 7 factors evaluated
Here is what the public data shows about Spell, ordered by how strongly each factor contributes to the score:
- Drawdown From All-Time High: Down more than 99% from its all-time high — among the deepest drawdowns we measure.
- Market Cap Risk: Market cap under $100M — mid-sized; large trades can still move the price.
- Volume Anomaly: Volume at 6.6% of market cap — within normal range.
These are automated, opinion-based indicators from public data — not financial advice or an allegation of wrongdoing. See our methodology.
Risk Factor Breakdown
Each factor is scored independently and weighted to calculate the total risk score.
Drawdown From All-Time High
Price Action
25/25
100%
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
1/20
5%
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.
Market Cap Risk
Market Structure
3/15
20%
Market capitalisation. The smaller the asset, the less capital it takes to move its price.
Not contributing (4): Supply Structure, Price Volatility, On-Chain Holder Concentration, 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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What the contract allows
Ethereum · measured 2026-10-21
Spell’s deployed contract grants its owner 1 privilege that can affect your position. These are properties of the code itself, not allegations about anyone’s conduct — many legitimate projects retain them deliberately.
Owner can mint new tokens
Supply is not fixed; new tokens can be created, diluting existing holders.
Checked and not present: change any wallet balance, pause all transfers, blacklist wallets, ownership can be reclaimed after renouncing, contract has a hidden owner, contract can self-destruct.
Source code: published and verified, so the deployed bytecode can be independently reviewed.
Contract analysis from GoPlus Labs · verify on-chain. An upgradeable contract can change after this reading.
How we counted holders here
Ten largest wallets
84.2%
including custodial
Largest private wallets
66.4%
after excluding 3
3 of Spell’s ten largest holders are labelled exchange, market-maker, treasury or vesting, liquidity-pool or DeFi-protocol, staking or vault, bridge, multisig or burn addresses — supply that is custodied, pooled or destroyed rather than sitting in one person’s wallet. Separating them out moves the top-10 figure by 17.8 points. We report the private-wallet figure because that is the supply someone can actually choose to sell today.
Wallets excluded from the top 10
| Address | Classified as | Label | Share |
|---|---|---|---|
| 0x76ec…fbd3 | Exchange wallet | BtcTurk 14 · BtcTurk 14 · Exchange | 12.59% |
| 0xf977…acec | Exchange wallet | Binance · Binance: Hot Wallet 20 · HOT WALLET · Exchange · Binance 8 · | 7.19% |
| 0xa9d1…3e43 | Exchange wallet | Coinbase Exchange · Coinbase Exchange: Hot Wallet · Exchange Gateway 10 · HOT WA | 1.20% |
Classification applied to the 100 holder records returned for this contract; 63 remained after exclusions · measured 2026-10-22. Custodial wallets are identified by public address labels, so an unlabelled one may still be counted as private — this correction is a floor, not a guarantee.
Spell holder-concentration history
2 dated measurements · +0 pts over the period
FraudCoins.com has measured the share of Spell’s supply held by its top 10 non-exchange wallets on 2 days since 11 Oct 2026. The highest reading was 66.4% on 11 Oct 2026; the most recent reading is 66.4% on 22 Oct 2026.
Composite risk score (0–100)
Recorded measurements (2)
| Date measured | Top 10 hold | Flagged |
|---|---|---|
| 66.4% | No | |
| 66.4% | No |
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.
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Frequently asked questions about Spell
Is Spell a scam?
We do not allege that Spell (SPELL) is a scam, and we have no evidence of wrongdoing by anyone associated with it. What we can tell you is what we measured: Its ten largest private wallets hold 66.4% of supply (exchange, staking, bridge and burn addresses excluded). That places it at 29/100 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 Spell flagged as low risk?
Spell's risk score is driven mainly by: drawdown from all-time high — Down more than 99% from its all-time high — among the deepest drawdowns we measure; market cap risk — Market cap under $100M — mid-sized; large trades can still move the price; volume anomaly — Volume at 6.6% of market cap — within normal range.
Who controls Spell's supply?
On-chain data shows the top 10 holders of Spell hold 66.4% of the supply (burn and labelled exchange, staking and liquidity wallets excluded). This is shown for transparency and sits below our flag threshold.
Is Spell safe to buy?
FraudCoins.com does not give buy or sell recommendations, and no cryptocurrency is safe. Spell scores 29/100 (low risk) on our automated risk model. Always do your own research and never invest more than you can afford to lose.