TechFlow news, May 12 — According to a recent research report by Solidus Labs, since 2024, Solana-based token platform Pump.fun has launched seven million tokens, with as high as 98.6% identified as rug-pull activities. The report also indicates that approximately 93% of liquidity pools on another major decentralized exchange, Raydium, exhibit similar fraudulent characteristics. The Solana blockchain, due to its low fees and fast transaction features, has become a breeding ground for memecoin speculation and fraudulent activities. In response to this severe situation, the U.S. SEC and DOJ have begun strengthening oversight of cryptocurrency fraud, and experts recommend institutions and users adopt effective monitoring tools to mitigate risks.
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