According to a report by Solidus Labs, 98.6% of memecoins launched on the Pump.fun platform are associated with fraudulent schemes such as rug pulls and Pump & Dump.
98.7% of @pumpdotfun tokens = pump & dumps.
93% of @RaydiumProtocol pools = rug pulls.Investors beware as the @solana ecosystem continues to grow, it’s increasingly becoming ground zero for memecoin fraud.
Read the 2025 Rug Pull Report: https://t.co/PjRmGpWmdV
— Solidus Labs (@Solidus_Labs) May 8, 2025
By January, more than seven million coins had been launched on the platform, but only 97,000 of them maintained liquidity of at least $1,000.
The peak of activity in terms of the number of new tokens and trading volume occurred at the beginning of 2025.
The metrics of the popular decentralized exchange Raydium, based on Solana, confirmed a worrying trend:
- 93% of the 388,000 asset liquidity pools exhibited characteristics of rug pulls;
- the average scam damage amounted to $2,832, with 25% of cases at $732;
- the maximum loss volume reached $1.9 million.
“Such transactions demonstrate the vast scale of exploitation of market participants, with hundreds of traders regularly falling victim to incidents,” the report’s authors noted.
Earlier, CoinGecko identified memecoins as the most popular narrative of the first quarter of 2025.