You Won’t Believe How Many Pump.fun Tokens Are Complete Scams 😱

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Alright, so get this: some genius over at Solidus Labs basically blew the whistle on the Solana blockchain. And when I say “blew the whistle,” I mean they’re yelling “Fire!” in a room that’s already burned down. 🤦‍♂️

They claim—no joke—98.6% of all those tokens launched on Pump.fun are either rug pulls or pump-and-dump nonsense. That’s not a red flag, that’s the Running of the Bulls in Pamplona but the bulls are pickpockets.

Solana: A Meme Coin Scam Wonderland?

According to these watchdogs, Solana is perfect for scams because it’s cheap and easy to use. You know, just like microwave dinners and, apparently, fraudulent crapcoins. Seriously, it’s like throwing a cookout for scammers: “Hey guys, come on over, fees are low, regulations are out, BYO-get-rich-quick-scheme!”

“Investors beware as the Solana ecosystem continues to grow, it’s increasingly becoming ground zero for memecoin fraud,” Solidus warned. Gee, thanks for the tip, Sherlock. 🙄

Pump.fun is the party host here—$100 million in daily volume and basically every coin is just another bad idea waiting to implode. From January 2024 through March 2025, over 7 million tokens went live! But only 97,000 of those managed to keep more than $1,000 in liquidity. The rest? Poof! Gone faster than your dignity at a high school reunion.

My personal favorite story: one guy created 18,000 coins and walked away with $3.7 million (‘cause who needs friends when you have that many coins and no principles?).

And their newfangled “automated market maker” thing? The bonding curve? Just means tokens get more expensive for the poor schmucks who show up late—like buying tulips in the 17th century and thinking, “this flower will definitely make me rich.”

Extra twist: if the creators cash out, the token nosedives. People who got in late are left holding an empty bag and a lesson in bad decision-making.

But wait! There’s deployer-funded, same-block sniping—because why not add another scammy flavor to the ice cream? The creators basically shoot themselves in the foot, but make sure they’re wearing someone else’s shoes first.

Raydium, another DEX, isn’t off the hook. Out of 388,000 liquidity pools, 361,000 had “soft rug pulls”—that’s 93%. It’s like a pool party where 93% of the pools are just big puddles in the parking lot.

Financial damage? Sure! Most losses were less than $732, but the median hit was $2,832. Biggest heist? $1.9 million! I mean, at that point, just rob a bank—it’s probably less paperwork.

Legal Trouble? You Don’t Say!

Pump.fun caught two class action lawsuits in January. The accusation: running a vending machine for unregulated securities and raking in $500 million in unexplained fees. If there’s a surefire way to get dragged into court by a bunch of angry people who lost their shirts, this is it.

And, plot twist, they even had to pause their livestream feature because people started using it to, you guessed it, pump their coins with disturbing broadcasts. After that, their revenue dropped $22 million in a week. You think you’re having a bad day?

Anyway, that’s Solana for you: fast, cheap, and possibly hazardous to your wealth. If you bought these tokens, I’ve got some magic beans to sell you. 😉

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2025-05-11 00:45