A new Solidus Labs report has revealed a huge amount of what she calls a “fraudulent” activity on Solana's blockchain.
The results revealed that 98.6% of the tokens launched on the pump.
Solana: A home for memes currency scams?
In his reportThe Crypto Surveillance Surveillance highlighted Solana's low costs and the convivial decentralized trade of Solana (DEX) as key reasons for which it has become a hot spot for speculation on the memes piece.
“Investors are wary while Solana's ecosystem continues to grow, it is becoming more and more zero for the same fraud,” warned Solidus.
At the heart of this growth is Pump.Fun, a platform for generation of tokens based in Solana, which has seen daily negotiation volumes exceed $ 100 million. According to Solidus, this figure was mainly driven by the speculative activity of the same.
Between January 2024 and March 2025, more than 7 million tokens were deployed with at least five professions each. Among these, only 97,000 liquidity has kept more than $ 1,000. The report concludes that 98.6% of the tokens on the platform collapsed in pump and dump diagrams without value after the launch.
Earlier in the year, Cryptopotato reported a pump user.
The platform recently launched an automated market market (AMM) which applies a liaison curve pricing model. As part of this system, the prices of tokens increase exponentially with each purchase, which benefits creators and first buyers.
According to the analysis, this model disadvantages subsequent participants due to higher token price and potential losses when creators liquidate their assets.
A distinct report of Pine Analytics also highlighted A practice known as sniping funded by deployers. This method allows creators to take advantage by performing transactions in the same block as the deployment of tokens.
Solidus Labs also examined Raydium, another Dex adult based in Solana who uses traditional liquidity pools funded by tokens manufacturers. Out of 388,000 swimming pools analyzed, 361,000, or 93%, showed characteristics of soft carpet prints. This involved incidents where liquidity was suddenly withdrawn, causing price accidents.
The financial damage of these cases vary. About 25% of the amounts involved were less than $ 732. However, the median figure was about $ 2,832, while the largest detected amounted to $ 1.9 million.
Legal and controversy disorders
In January, Pump.fun was targeted by two collective appeals. The two accused the platform of raping American securities laws by facilitating the launch of non-recorded tokens and perceiving up to $ 500 million in related costs.
In December of last year, he was forced to temporarily break his function live after the creators of tokens began to make disturbing shows to pump their pieces. In the immediate consequences, Pump.fun had to face a 22 million dollar income accident, chain data showing a weekly income nose.
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