Half of the meme tokens on the Solana network were issued by scammers!!
According to a study by cybersecurity company Blockaid, half of the meme tokens on the Solana (SOL) network were issued by scammers.
Blockaid co-founder Ido Ben-Nathan reported an increase in scams on the SOL blockchain due to the rapid growth in popularity of meme-based cryptocurrencies. According to him, scammers accounted for 50% of organized pre-sales of meme tokens in the period from November 2023 to February 2024.
During the bull run in March, people invested $100 million in meme tokens issued on the Solana network in three days during the pre-sale stage. In this regard, it can be assumed that the scammers' catch amounted to hundreds of millions of dollars.
An Ethereum investor known under the pseudonym sassal0x wrote that the probability of falling for scammers when participating in the pre-sale of coins reaches 99.9%. However, Blockaid's analysis suggests that the chance of failure is only 50%.
Moreover, if successful, early investors can hit a substantial jackpot. In particular, fellow meme token creator Book of Meme (BOME) made a profit of over $31 million by purchasing $72,000 worth of BOME and getting rid of the coins after three days.