SunPump has taken the crypto world by storm, emerging as the most profitable project in the industry. Launched this week on the Tron blockchain, it has already doubled the profits of its predecessor, PumpFun, drawing attention from both legitimate users and opportunistic scammers. This article will delve into the top scam method currently plaguing SunPump and provide crucial tips on how to avoid falling into this lucrative trap.

SunPump: The Latest Sensation

SunPump is essentially the Tron blockchain's version of PumpFun, offering a simple, user-friendly platform for launching memecoins with minimal fees. In just one week, over 30,000 tokens have been created on SunPump, but only 2% of these tokens have made it to Sunswap for listing. This means a staggering 98% of tokens are likely to rug pull or collapse before they even reach the required market cap for listing. The cheap and accessible nature of the Tron blockchain has made it an attractive playground for scammers.

Identifying the Scam: Key Indicators

Scammers on SunPump employ various tactics to inflate token values and lure unsuspecting traders. Here’s how they do it:

Step 1: Deploying with a Clean Wallet

One of the first things to watch out for is the deployer's wallet. Scammers typically use a brand-new wallet that has just been funded from an exchange, with no previous activity. In some cases, they are so careless that they forget to create a new wallet altogether. Always check the deployer's wallet for any suspicious activity before considering a token.

Step 2: Beware of Copycat Tokens

A common tactic is to create tokens that mimic existing successful ones. Scammers hope to confuse traders into buying their fake tokens. To avoid falling for this, carefully study the token’s ticker and its presence across various blockchains. Tools like Dexscreener or Dextools are invaluable for this step, allowing you to verify the token’s legitimacy before making any moves.

Step 3: Rug Check Before You Buy

Before committing to a purchase, it’s essential to check for any signs of a rug pull. While there are limited tools available for assessing Tron tokens, SolidityScan is currently the most reliable option. This tool allows you to scan the contract for any potential red flags. Keep in mind that the scamming tactics on SunPump are similar to those used on Ethereum Virtual Machine (EVM) chains, so vigilance is key.

Step 4: Monitor Token Purchases

Scammers often manipulate trading volumes to create the illusion of demand. Watch out for similar-sized purchases or transactions from the same wallets. These patterns can indicate wash trading, a tactic used to artificially inflate the token’s value and lure more buyers. Scammers then cash out, leaving latecomers with worthless tokens.

Step 5: Analyze Token Holders

Finally, always check who holds the token. No single wallet should control more than 2.5% of the total supply. If a wallet does hold a large percentage, it’s a clear red flag that selling from this wallet will cause the token’s price to collapse. A healthy distribution of tokens among holders is crucial for the stability and legitimacy of a project.

Conclusion

SunPump’s rapid rise has been matched by an equally rapid increase in scam activities. Scammers are making over $200,000 daily by exploiting the platform’s features and the naivety of inexperienced traders. However, by staying vigilant and following the steps outlined above, you can protect yourself from falling victim to these schemes. Remember, always DYOR (Do Your Own Research) before investing in any new token.