Approximately 50% of projects operating in the #Solanađ blockchain ecosystem that conducted token pre-sales between 2022 and 2023 turned out to be fraudulent.
Company co-founder Ido Ben-Nathan said the study highlights two main factors contributing to the prevalence of fraud in the Solana environment. The first of these is the sharp increase in the number of tokens caused by the great interest in meme coins. The second is the syndrome of lost profits (FOMO), leading to panic against the backdrop of rapid growth of the ecosystem. We have already talked about this effect earlier.
Users' interest in meme coins is growing, which encourages them to look for new opportunities. Attackers take advantage of this by committing fraudulent actions.
Earlier, crypto expert ZachXBT drew attention to the problem of a large number of pre-sales in the Solana ecosystem. According to him, in just one week in March 2024, 33 such events were held, raising a total of $137 million.
This news comes amid growing public attention to the problem of completing transactions on the Solana network. More than 70% of translations encounter errors during execution.
The developers have prepared a patch that is planned to be deployed online on April 15, 2024.
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