Report: https://t.co/eJImNGAVxF shows that 98.6% of tokens on the platform are classified as "Rug Pull" or "Pump and Dump" scams.

A report from blockchain security company Solidus Labs reveals rampant fraudulent activity on the Solana blockchain, with https://t.co/eJImNGAVxF being a major hotspot.

The report indicates that among the tokens issued on this platform, 98.6% are categorized as "Rug Pull" or "Pump and Dump" scams. Since the launch of https://t.co/eJImNGAVxF in January 2024, over 7 million tokens have been issued, but only 97,000 tokens have liquidity maintained at a minimum of $1,000.

Due to its low-cost token issuance feature, https://t.co/eJImNGAVxF has become a breeding ground for scammers. Several major "Rug Pull" incidents have occurred this year, with MToken-related cases involving amounts up to $1.9 million. On the decentralized exchange Raydium, "soft Rug Pull" phenomena are widespread, with 93% of liquidity pools showing signs of gradual fund withdrawal, and a median single loss of $2,800. The meme coin sector is also chaotic; tokens TRUMP and MELANIA, once promoted by the Trump couple, plummeted 87%–97%, while insider traders profited over $100 million.