---
title: "50% of Solana’s Recent Token Launches Revealed as Malicious Scams: Report"
url: https://diffcoin.com/50-of-solanas-recent-token-launches-revealed-as-malicious-scams-report/
description: "Meme coin explosion on Solana has attracted malicous entities to launch fradulent projects."
published: 2024-04-13
updated: 2024-04-13
author: "Mila"
site: "Diffcoin"
---

# 50% of Solana’s Recent Token Launches Revealed as Malicious Scams: Report

Despite network outages, Solana has witnessed a flurry of projects launched on top of its blockchain. Such a trend typically depicts a growing demand. But the latest report paints a different picture.

These fraudsters were found to be capitalizing on users’ heightened risk appetite, fueled by FOMO amidst a market-wide resurgence.

- In a report shared with CryptoPotato, blockchain security company Blockaid revealed that 50% of recent pre-sale token launches on Solana have been malicious. The strategies employed by fraudsters within the popular Layer 1 ecosystem closely resemble those observed in other cryptocurrency platforms.
- This includes leveraging social engineering platforms such as Telegram, Twitter, and Discord to trick users into engaging with malicious addresses or websites.
- The ongoing meme coin frenzy as well as the potential for quick profits amidst market volatility further exacerbated the vulnerability of inexperienced and novice users to these scams.

> “Scammers capitalize on the excitement surrounding meme coins to lure investors, exploiting fear of missing out (FOMO) and the promise of lucrative returns.”

**![Presale Token Scams. Source: Blockaid](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxMTgyIDcyMSIgd2lkdGg9IjExODIiIGhlaWdodD0iNzIxIiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNCUyRjA0JTJGU2NhbXMuanBnIiBkYXRhLXc9IjExODIiIGRhdGEtaD0iNzIxIiBkYXRhLWJpcD0iIj48L3N2Zz4=)**
: Presale Token Scams. Source: Blockaid

- Firstly, in February and March of this year, Blockaid’s threat intelligence team observed a significant surge in the uptake of pre-sale tokens, which quickly increased from a few tens to hundreds of purchases.
- This surge was largely driven by the exponential growth of legitimate meme coins.
- The team also claimed that Solana’s ecosystem may lack adequate security measures, essentially leaving it vulnerable to exploitation by scammers.
- In fact, the security firm’s data indicates that even popular projects have been targeted by these groups, highlighting the continued threat posed by pre-sale scams within the cryptocurrency industry.

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[Source link](https://cryptopotato.com/50-of-solanas-recent-token-launches-revealed-as-malicious-scams-report/)