Half of the meme tokens on the Solana network were issued by scammers
Half of the meme tokens on the Solana (SOL) network were issued by scammers, according to a study by cybersecurity company Blockaid.
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.
Fraudsters try to make money by taking advantage of people's fear of missing out. They use sophisticated tactics, such as imitating legitimate transactions and creating misleading websites,” Ben-Nathan said.
Ido Ben-Nathan (left)
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.
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