#blockaid #condom #solana

Blockaid: 50% of meme token presales on Solana in 4 months turned out to be fraud.

What happened? About half of the presales of meme tokens on the Solana blockchain between November and February turned out to be scams, as reported by analysts at the cybersecurity company Blockaid. They noted that the boom in meme coins has become “fertile ground” for attackers who actively exploit the fear of missing out (FOMO) among traders, luring them by imitating legitimate transactions and creating fake websites.

What else is known? Launching tokens through presales has become popular in the Solana ecosystem in recent months. This method involves investors sending cryptocurrency to the creator's address and receiving a weighted distribution of tokens once the project is launched. In this case, there is no guarantee that the investor will receive new tokens in exchange for the cryptocurrency sent, which makes presale an extremely popular model for scammers.

Just last month, an anonymous blockchain researcher under the nickname ZachXBT reported several cases of scams with damages in excess of $2.5 million. Later, the creator of the CONDOM token disappeared with investor funds.