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Report: Fifty percent of Solana’s Latest Token Launches Exposed as Malicious Cons

Thrilling developments carry on on the Solana blockchain in spite of current network interruptions. The inflow of new tasks is generally a indicator of increasing interest. However, a new report sheds light-weight on a about craze.
Fraudsters have been having benefit of users’ hunger for hazard, specifically throughout a period of time of market optimism and FOMO.

  • Blockaid, a blockchain protection company, shared a report with Ailtra revealing that fifty percent of the the latest pre-sale token launches on Solana have been fraudulent. These scammers are working with strategies very similar to those people noticed on other cryptocurrency platforms, typically luring users by social media platforms like Telegram, Twitter, and Discord.
  • The surge in meme coin recognition and the assure of swift gains in a unstable sector have designed inexperienced users far more vulnerable to these schemes.

“Scammers get gain of the hype about meme cash to deceive buyers, exploiting FOMO and the guarantee of high returns.”

Presale Token Scams. Resource: Blockaid
  • Among February and March, the Blockaid crew recognized a sharp rise in the quantity of pre-sale token buys, mainly fueled by the reputation of genuine meme coins.
  • They also expressed fears about Solana’s stability measures, suggesting that the ecosystem might be susceptible to exploitation by scammers.
  • Even proven initiatives have not been immune to these ripoffs, indicating the ongoing risk posed by fraudulent pre-sale activities in the crypto house.

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