The explosion of meme coins on Solana has attracted malicious entities to launch fraudulent projects.

Despite the network outage experienced by Solana, the blockchain has seen a large number of projects launched. Such trends usually indicate growing demand. But the latest report paints a different picture.

It was found that these fraudsters took advantage of the rising risk appetite of users, which was driven by the resurgent FOMO sentiment across the market.

In a report shared with CoinDesk, blockchain security firm Blockaid revealed that 50% of Solana’s recent pre-sale token issuance was malicious. The tactics employed by scammers in this popular Layer 1 ecosystem are very similar to those observed on other cryptocurrency platforms.

This includes leveraging social engineering platforms such as Telegram, Twitter, and Discord to trick users into interacting with malicious addresses or websites.

The ongoing meme coin craze, coupled with the potential for quick profits from market volatility, makes inexperienced, new users more vulnerable to these scams.

“Scammers are capitalizing on the excitement surrounding the meme coin craze to lure investors in, preying on people’s fear of missing out (FOMO) and expectations of outsized returns.”

First, in February and March of this year, Blockaid’s threat intelligence team observed a significant increase in acceptance of pre-sale tokens, with purchases quickly increasing from dozens to hundreds.

This surge was primarily driven by the exponential growth of legitimate meme coins.

The team also claims that the Solana ecosystem may lack adequate security safeguards, essentially making it more vulnerable to exploitation by scammers.

In fact, data from the security firm suggests that even popular projects have been targeted by these groups, further highlighting the ongoing threat of pre-sale scams in the cryptocurrency industry. #Solana  #恶意诈骗