Daily Rug Pulls on the Rise: Scammers Rake in 50-100 $SOL — Here’s How to Avoid Them 🚨
As the memecoin craze takes off, so too does the darker side of crypto: rug pulls. Scammers are launching these schemes daily, raking in 50-100 $SOL, and the problem is only getting worse. But I’ve uncovered a method to help you avoid falling victim to these fraudulent tokens.
The rise of PumpFun has injected new energy into the world of memecoins, offering creators and investors an easy-to-use platform. I firmly believe this cycle is all about memecoins. Yet, with the explosion in new tokens comes a parallel surge in scamming activities.
PumpFun has quickly become the go-to platform on Solana for creating and launching memecoins or simply buying one with just a couple of clicks. It’s gained significant popularity, especially among risk-takers eager to cash in on the next big thing. However, while the platform continues to evolve, so do the challenges for users. The pursuit of those elusive 100x gains is no easy task, and for many, it ends in losses rather than profits.
A major issue lies in the increasingly sophisticated tactics used by scammers. Even savvy traders can fall victim to these schemes, often without realizing it until it’s too late. If you’ve been actively trading on PumpFun, you may have noticed a pattern: a new coin is launched, quickly gains momentum, and finds its way to Raydium.
Regular traders, lured by the potential for quick profits, check the coin, find no red flags, and decide to invest. The developer seems to hold a modest 4-6% of the total supply, and there are no obvious wallet connections that raise suspicions. But then, without warning, the price plummets, and your investment is gone.
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