‘Alarming’ 99% of Memecoin Launches on PumpFun are Pump-and-Dumps or Rug Pulls: Report
1 min read
Almost 99% of memecoin launches on Solana’s PumpFun launchpad are rug pulls or pump-and-dump schemes. And the scammers are going for quantity over quality. That’s the takeaway from a new report by crypto-native risk monitoring firm Solidus Labs, which also found that 93% of liquidity pools on the decentralized exchange (DEX) Raydium show signs of rug pulls and pump-and-dumps. Individually, the amounts are often small: On Raydium , 25% involved amounts of less than $732, and the median rug pull was $2,832. But, there were 361,000 pools in the study. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Source: The Defiant
