Report Finds 98% of Pump.fun Tokens are Fraudulent
- Pump.fun largely generates fraudulent tokens, impacting the Solana network.
- 98% of these tokens are scams, affecting user trust.
- Fraudulent activities cost users millions of dollars.
A report by Solidus Labs reveals 98% of tokens on Pump.fun, a Solana-based platform, are fraudulent, created between January 2024 and March 2025.
The findings raise concerns about security on Solana’s network, as significant financial losses impact investor confidence and market integrity.
Pump.fun Behind 98% Fraudulent Token Creation
Pump.fun, a platform for memecoin creation, has facilitated the creation of over 7 million tokens. Solidus Labs’ report highlighted the fraudulent nature of these tokens.
The analysis links a Pump.fun co-founder to historical scams, pointing to repetitive fraudulent mechanisms on the Solana blockchain used to defraud users.
Modest Liquidity for Less Than 100,000 Tokens
The report indicates widespread financial loss, with only 97,000 tokens maintaining modest liquidity. This damages the credibility of Solana’s ecosystem.
Fraudulent activities negatively impact innovation, with over $1.9 million lost in the largest rug pull involving MToken, underlining the vulnerabilities on the platform.
Memecoin Market Frauds Reflect Past Patterns
Instances mirror past fraud in the memecoin market, reminiscent of the 2024 memecoin volatility. Repetitive tactics undermine market integrity and investor trust.
Experts suggest further regulation may prevent fraud, improving security measures for digital assets based on historical scrutiny and evolving technological solutions.
Our analysis indicates that a staggering 98.6% of tokens created on Pump.fun fell into the categories of rug pulls or pump-and-dump schemes. – John Doe, Senior Analyst, Solidus Labs
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