Solidus Labs Report: 98.6% of tokens on pump.fun are flagged as scams or fraudulent transactions

ChainCatcher news, according to CoinDesk, a report from Solidus Labs shows that Solana has become a popular blockchain favored by criminals and scammers. 98.6% of the tokens launched on pump.fun have been flagged as scams or fraudulent transactions. Since its establishment in January 2024, pump.fun has issued over 7 million tokens, of which only 97,000 tokens maintain at least $1,000 in liquidity. The largest fraudulent transaction identified by Solidus Labs during this period was valued at $1.9 million, related to MToken.

Additionally, on Raydium, Solidus Labs found that 93% of liquidity pools (361,000 pools) exhibited soft rug pull characteristics, with a median rug pull value of $28,000.