Scammers use this method to make 1000+ $SOL per day, and they'll be mad at me for leaking it. 😡
It's highly effective, and even experienced degens fall into the trap👇🧵
What is PumpFun?
PumpFun is a popular Solana platform where users can create and launch new tokens with ease. Since its launch in January 2024, it has attracted a lot of attention, especially for memecoin creation and trading.
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The Challenge:
Finding 100x gems on PumpFun is difficult. Only 1.4% of tokens reach over ~$60K MC and make it to Raydium. Most tokens get rugged, often in obvious ways, but scammers have developed more sophisticated tactics to trick even experienced users.
Here's How Scammers Extract 500+ $SOL per Launch:
1/ Create & Pump to Raydium
➢ Fresh deployer wallet, funded from a CEX or mixer with no prior interactions.
➢ They start buying from numerous wallets funded by Elusiv or Solnado.
➢ These wallets appear legit, with no connection to each other.
2/ Trick BubbleMaps
➢ On @bubblemaps, the token appears normal with no suspicious wallet connections.
➢ There’s no significant supply concentrated in one individual's hands.
3/ Shill & Fake Volume
➢ Once the token reaches a substantial MC and migrates to Raydium, KOLs are onboarded to start shilling.
➢ They continue wash-trading, faking the volume, and pumping the token to the trending section on DEX Screener.
4/ Rug Pull
➢ They consolidate the entire supply into a single wallet and dump it all at once.
➢ Liquidity is sufficient to extract much more than spent on KOLs and wash-trading.
How to Detect These Rugs:
➢ Little to no activity on the PumpFun page, botted comments, and an abnormal number of holders.
➢ Majority of buyers have no prior interactions with PumpFun (0 likes, 0 followers, 0 coins held).
➢ Constant wash-trading on DEX with identical amounts.
➢ Buyers' wallets funded from an unknown CEX or mixer, with the first transaction being that specific coin.
Stay vigilant, FAM! 😎
