Analytics platform Bubblemaps has accused Rugproof, a startup platform powered by the Solana blockchain that bills itself as protecting investors from rug pull scams, of orchestrating a classic rug pull scam. In essence, the project that was supposed to prevent manipulation and risk to investors has itself become a suspect in the exploit it is trying to avoid.
On its official website, Rugproof claims to offer the ability to issue new tokens with a “zero risk early investment” guarantee, anti-dumping mechanisms, and built-in rewards for token holders. The project also promises to buy back tokens and lifetime payments to its investors. However, data analyzed by Bubblemaps indicates the opposite: since the launch, 50% of the total volume of Rugproof tokens has been concentrated in the hands of a limited number of wallets, which calls into question the decentralization and security of the project.
Using on-chain data visualization technology in the form of bubble maps, Bubblemaps analysts found that the creator of the tokens, identified as o93G6B, sent Solana (SOL) cryptocurrency to 162 different wallets, which subsequently purchased exactly half of the total token supply at the project’s launch. This is a typical pattern for scam projects, where multiple controlled wallets create the illusion of a wide distribution of tokens and investor interest, when in reality, one party controls them.
This distribution of assets across a large number of addresses is often an attempt to simulate a decentralized token launch, although in fact all assets remain under centralized control, which complicates control and increases risks for end investors. In addition, significant information about the Rugproof development team, tokenomic parameters, and smart contract audit results are missing or not publicly confirmed at the time of the investigation, which further exacerbates the lack of trust in the project.
After publishing the analysis, the Rugproof team claimed that the distribution of SOL to multiple wallets was done automatically by a system that redistributes funds among users. However, Bubblemaps is skeptical of this claim, noting that the addresses to which funds were transferred are private wallets, not public smart contracts, which does not correspond to the models of transparent and automated systems used in such projects.
Attempts by Bubblemaps analysts to contact the Rugproof team through official channels were unsuccessful. Against this background, a Bubblemaps representative noted that such red flags — a significant concentration of tokens on a limited number of addresses and the use of multiple wallets — are common in previous cases of token scams and should serve as a warning to investors.
Bubblemaps specializes in transforming on-chain data into interactive visualizations that reveal wallet clusters, concentrated token ownership, and manipulation. The platform actively researches cryptocurrency projects and has released over 20 viral investigations since October 2023, revealing cases of concentrated ownership, manipulation, and potential token fraud in various markets.
The allegations against Rugproof come amid a significant surge in activity in the memecoin space in July 2025. In the middle of the month, the total market cap of meme tokens reached $85 billion, up 54% from the end of June. As of early August, the sector has partially corrected and amounted to about $73 billion, which is still 32% higher than June. Mercuryo co-founder and CEO Petr Kozyakov attributes the rapid growth of memecoins to several factors, including the ease of launching tokens on platforms like Pump.fun, easy user access to memecoins, and the rise in the price of Bitcoin, which together have awakened bullish sentiment in the market.
The Rugproof situation thus illustrates the typical risks of the crypto market, where projects under the guise of investor protection can be part of a manipulation and fraud scheme. Bubblemaps analytics provide compelling evidence based on on-chain data that confirms the need for a cautious approach to such platforms, especially in the context of the growing memecoin activity, where the scale of risks and fraud increases significantly.
Let’s look at a selection of articles related to the topic of the Rugproof fraud allegations and the general situation on Solana:
- Bubblemaps Accuses Rugproof Launchpad of ‘Rug Pulling’ Scheme
A detailed analysis by analytics platform Bubblemaps of suspected scams against Rugproof, a project that positions itself as a rug pull defense but has concentrated 50% of tokens in the hands of a small group of wallets.
Source: Block-Chain24, July 2025 1 - “Anti-scam” platform RugProof suspected of fraud
Expert analysis and comments on the suspicious token concentration and opacity of the RugProof project, as well as the context of fraud in crypto markets.
Source: ForkLog, July 2025 2 - Half of Solana Presales Were Scams
A study that found about 50% of Solana token presales to be scams, with examples and analysis of the attackers’ methods.
Source: ForkLog, 2025 3 - Rugproof Coin Price Analysis on Bitrue Alpha: Is It Safe and…
An overview of the Rugproof token, focusing on its built-in anti-fraud mechanisms and the state of the market as of late July 2025.
Source: Bitrue, July 2025 4 - The Best Cheap Cryptocurrencies to Buy Now – Solana-Based Memcoins
A look at promising Solana-based memecoins, including context for the segment’s surge and the impact of new launches on the market.
Source: Icoda, 2025 5
These resources will help you understand the context of the accusations against Rugproof, common Solana scams, and the dynamics of the memecoin market.
What similar Solana launchpad scams have been identified so far?
There have been numerous launchpad and crypto scams reported on Scambodge and elsewhere, including on the Solana blockchain. Here are some typical examples of similar cases:
- Meme tokens launched on Solana, followed by a classic “rug pull” where creators took most of the funds and the token rate plummeted, leaving investors with losses. An example is the meme tokens $CREEPOCHEK, $DASHA, $PDIDDY and others associated with influencers and bloggers, who suddenly dumped the tokens as their capitalization grew, forming a classic scam scheme.
- Using multiple wallets to create the appearance of decentralized token distribution, although all wallets were controlled by one person or group, making it difficult to track and creating risk for ordinary investors, as was discovered with Rugproof and similar projects.
- Pseudo-projects posing as official initiatives (for example, the @TimeTONbot project under the guise of the TON Foundation), which ultimately did not launch the promised tokens, but either disappeared or continued to suck up users’ funds without return.
- Active advertising and promotion of tokens by influencers with subsequent draining of liquidity, as happened with $CBR, $POUCHI and others, where the stated obligations were ignored and the audience suffered serious financial losses.
- Launching platforms with launchpads and memcoins without transparent audits and team, similar to the case of Rugproof, where there is no public data on the team composition and results of smart contract audits, serves as a significant warning sign.
These schemes are typical of scams in the fast-growing Solana and memecoin segments of the crypto market, where high volatility and innovation are used by attackers to deceive investors. Investors are advised to carefully check the token ownership structure, availability of verified project information and audits, and avoid projects with excessive concentration of shares in a limited number of wallets.
Why Cryptocurrency Rate and Memcoin Scams Often Involve Launchpads
Cryptocurrency rate and memecoin scams are often associated with launchpads for the following reasons:
- High volatility and hype around memcoins
Memcoins are very popular and quickly gain in price at the start, which attracts a large number of speculators and ordinary investors who are eager for quick profits. Launchpads create a convenient mechanism for launching such tokens, attracting inexperienced users who can become victims of manipulation and fraud 1 . - Rug Pull Schemes
Most launchpads allow developers to create new tokens with the ability to quickly take liquidity by withdrawing investors’ funds. This is due to lack of control and auditing, as well as a lack of transparency in token distribution and contract management. Such schemes are often implemented on launchpads due to the desire to make a quick buck 1 2 . - Centralization of control and lack of transparency
Despite the claimed decentralization, many launchpads are controlled by one or a group of addresses, creating a single point of failure and allowing for easy market manipulation. In some cases, multi-signature wallets are controlled by a single entity. Closed source code and private APIs make auditing and vulnerability detection difficult 1 2 . - Low Liquidity and Price Manipulation
Many memecoins launched via launchpads have low liquidity, making them difficult to sell and leading to large price swings. This allows attackers to artificially inflate prices and then fleece with the profits, leaving investors with losses 1 2 . - Lack of regulation and increased risks
Launchpads often operate in a poorly regulated area, which creates favorable conditions for scammers. The inclusion of content and activities with ethical and legal issues, such as NSFW content or gambling, makes the situation worse 1 . - It is easier to create new tokens without significant oversight
Launchpads provide convenient tools for quickly launching multiple coinbases, which increases the number of fake or scam projects by making it difficult for users to distinguish between real and counterfeit tokens 1 2 .
Launchpads are thus a convenient environment for memecoin scams to operate due to the combination of mass interest, high volatility, and lack of transparency and control.
Why Memcoin Launches Through Launchpads Are Highly Risky to Scam
Launching memcoins through launchpads is associated with a high risk of fraud for several key reasons:
- Very low barrier to entry for creating memecoins
Launchpads allow developers to quickly and easily create and launch new memecoins without serious technical control and auditing. This leads to the market being oversaturated with suspicious and scam projects that are created only for the purpose of price manipulation and quick profit 1 . - Price inflation and rug pull schemes
Many memecoins are launched with the intention of rapidly increasing the price through heavy marketing or coordinated buying, after which the creators or insiders quickly drain the liquidity, leaving investors with worthless tokens. Launchpads often do not provide adequate protection against such schemes 1 2 . - Lack of transparency and centralized control
Launchpads often use closed smart contracts, and the platform itself may be controlled by a limited number of addresses or even a single person, creating a single point of failure and opportunities for fraud. This makes auditing and transparency for investors difficult 3 2 . - High Volatility and Low Liquidity
Memcoins, especially those launched via launchpads, often suffer from low liquidity, making it difficult to sell (exit the project) without a major price drop. Volatility makes such investments extremely risky and suitable for quick asset drain by scammers 2 1 . - Insufficient Regulatory Oversight
Due to weak regulation and lack of oversight, many scammers use launchpads as a convenient means to launch dubious projects that are difficult to legally pursue. This is compounded by additional risks such as phishing and malware in the memecoin ecosystem 1 4 . - Social Media and Marketing Manipulation
Memcoins are often heavily promoted through social media, influencers, and even sometimes bot attacks, creating the illusion of demand and reliability when the product itself is fraudulent or technically vulnerable 1 10 .
Thus, the launch of memecoins through launchpads is associated with a complex of factors – technological, organizational and social, which make such projects an attractive environment for fraud and manipulation.
What types of scams are most often associated with launching memcoins through launchpads
The most common types of scams associated with launching memcoins through launchpads are:
- Rug Pull (Exit Scam)
The creators of a memecoin artificially inflate the price through marketing and manipulation, attract investors, and then quickly sell off most of their tokens, taking away liquidity and devaluing the coins for everyone else. This is often accompanied by false promises and the use of famous people not associated with the project 1 . - “Simple Developer Dump”
Developers purchase a small percentage of tokens from the total issue and in the first minutes after listing, massively dump them on the market, causing a rapid price drop and loss of investments for other users. This scheme is often used on platforms like Pump.fun 2 . - Trade manipulation and panic selling (KOTH Dump)
Developers create an artificial race for tokens and when the maximum is reached, they massively sell their tokens, which leads to panic and a huge number of sell-offs from other investors, increasing the price drop 2 . - Phishing and stealing private keys
Fraudsters create fake websites that imitate launchpads or memcoin-related sites to trick users into giving away private keys or seed phrases. Installed malware can steal access to wallets 1 4 . - Cryptocurrency Drainer Sites
Under the guise of free token distributions or special promotions, scammers force users to connect to malicious smart contracts, which ultimately withdraw funds from their wallets 1 . - Cloning popular memecoins and fake contracts
Launching copies of successfully distributed memecoins with fake smart contracts offering “favorable” terms, while real investment opportunities are absent 3 . - Manipulation of social activity
Creating fake hype through bots, fake reviews and attracting influencers to increase demand for memecoins with the aim of subsequent drain 3 .
These schemes have in common a high token launch speed, lack of proper auditing, low liquidity of memcoins and insufficient user protection on launchpads, which creates a favorable environment for fraud.
Launching memcoins through launchpads is a high-risk environment rife with numerous scams, due to a combination of technological, organizational, and social factors. Launchpads, while offering a fast and relatively easy way to create and bring new tokens to market, often become the arena for algorithmically and marketing-driven manipulations such as rug pulls, artificially inflating the price, and then draining liquidity, leading to large-scale losses among investors.
The key problem is the low entry barrier to launching memecoins, the lack of transparency and control from the platforms, and the high concentration of token ownership in a limited number of wallets. This allows attackers to create the illusion of decentralization and broad public interest, hiding the real centralized governance structure, which makes it difficult to detect and prevent fraud. In addition, the lack of auditors and regulators facilitates abuse, and the high volatility and low liquidity of memecoins create favorable conditions for rapid and destructive manipulations.
Social aspects such as active marketing, influencers and bots contribute to the formation of artificial hype around projects, which misleads inexperienced investors, encouraging them to invest in dubious tokens without proper analysis and understanding of the risks. The lack of complete information about the composition of teams, audit results and the mechanisms of smart contracts aggravates the situation.
Based on the analysis of numerous cases of memecoin and launchpad scams on various platforms, including Solana, it is clear that investors need to exercise extreme caution, carefully checking the token ownership structure, full disclosure, and reputation of the project. Experience shows that high concentration of tokens in a limited number of wallets, inability to contact the team, and opaque fund distribution mechanisms are serious warning signs.
Thus, the memecoin and launchpad market is a high-risk area, where the potential for high returns is combined with the possibility of significant financial losses due to fraud. Sustainable development and investor protection are possible only with the introduction of stricter regulations, transparent control mechanisms and the active use of specialized analytical platforms, such as Bubblemaps, to promptly identify anomalies and prevent manipulation. Investors are advised to remain vigilant, avoid hasty investments and use a comprehensive approach to assessing new crypto projects, especially in the memecoin segment, where the risk of fraud is highest.
Sources: Kaspersky, Binance, Adpass, Securities.io (2024-2025) 1 2 3 4 .
- https://www.kaspersky.ru/blog/trump-memecoins-cybersecurity-advice/39060/
- https://www.binance.com/ru/square/post/10212957204034
- https://adpass.ru/memkoiny-polnoe-rukovodstvo-po-nbsp-mem-valyute/
- https://www.securities.io/ru/5-%D0%BC%D0%BE%D1%88%D0%B5%D0%BD%D0%BD%D0%B8%D1%87%D0%B5%D1%81%D1%82%D0%B2,-%D0%BE-%D0%BA%D0%BE%D1%82%D0%BE%D1%80%D1%8B%D1%85-%D1%81%D0%BB%D0%B5%D0%B4%D1%83%D0 %B5%D1%82-%D0%BF%D0%BE%D0%BC%D0%BD%D0%B8%D1%82%D1%8C-%D0%BF%D1%80%D0%B8-%D0%BF%D0%BE%D0%BA%D1% 83%D0%BF%D0%BA%D0%B5-%D0%BA%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D1%8B/
- https://vc.ru/crypto/2128994-schemy-p2p-moshennichestva
- https://xn--90aivcdt6dxbc.xn--p1ai/articles/news/rossiyan-predupredili-o-moshennicheskoy-skheme-zamaskirovannoy-pod-obuchenie-kriptotreydingu/
- https://www.gate.com/ru/learn/articles/a-guide-to-avoiding-memecoin-related-scams/5279
- https://metalamp.ru/magazine/article/zacem-nuzny-launcpady-kriptostartapam-i-kak-oni-rabotaut
- https://www.tadviser.ru/index.php/%D0%A1%D1%82%D0%B0%D1%82%D1%8C%D1%8F:%D0%9C%D0%BE%D1%88%D0%B5%D0%BD%D0%BD%D0%B8%D1%87%D0%B5%D1%81%D1%82%D0%B2%D0%BE_%D1%81_%D0%BA%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D0%BE%D0%B9
- https://www.block-chain24.com/faq/kak-nayti-novye-memokoiny-prezhde-chem-oni-stanut-virusnymi
Sources: Adpass, KuCoin, Gate.io, Kaspersky (2024-2025) 1 2 3 4 .
- https://adpass.ru/memkoiny-polnoe-rukovodstvo-po-nbsp-mem-valyute/
- https://www.kucoin.com/ru/learn/web3/exploring-pump-fun-how-to-create-your-memecoins
- https://www.gate.com/ru/learn/articles/a-guide-to-avoiding-memecoin-related-scams/5279
- https://www.kaspersky.ru/blog/trump-memecoins-cybersecurity-advice/39060/
- https://www.gate.com/ru/learn/articles/one-click-token-launch-wars-erupt-meme-launchpad-reshuffle-begins-industry-status-and-endgame-predictions/9290
- https://www.block-chain24.com/faq/kak-nayti-novye-memokoiny-prezhde-chem-oni-stanut-virusnymi
- https://www.binance.com/ru/square/post/24624935410857
- https://www.coinex.com/ru/academy/detail/2689-launchcoin-believe-token-hype-analysis
- https://metalamp.ru/magazine/article/zacem-nuzny-launcpady-kriptostartapam-i-kak-oni-rabotaut
- https://bychko.ru/scam-memkoin/
What types of scams are most often associated with launching memcoins through launchpads
Sources: Gate.io (2024), KuCoin (2024) 1 2 .
- https://www.gate.com/ru/learn/articles/a-guide-to-avoiding-memecoin-related-scams/5279
- https://www.kucoin.com/ru/learn/web3/exploring-pump-fun-how-to-create-your-memecoins
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- https://www.okx.com/ru/learn/token-launchpads-direct-listings-2025
- https://cryptodnes.bg/ru/novosti/altcoini/
- https://t.me/s/RBCCrypto?before=19032
- https://www.gate.com/ru/learn/articles/how-to-find-new-memecoins-before-they-go-viral/6195
- https://blockchain.forum/ru/
- https://crypto.ru/chto-takoe-tokeny/
Sources: Scambodge (2025) 1 , ForkLog, Telegram channels on crypto scams.
- https://scambodge.com
- https://t.me/s/RBCCrypto?before=19032
- https://www.gate.com/ru/learn/articles/jupiter-lfg-launchpad-a-game-changer-for-solana-projects/2047
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- https://forklog.com/news/eksperty-zapodozrili-zashhishhayushhuyu-ot-skama-platformu-rugproof-v-moshennichestve
- https://forklog.com/news/polovina-presejlov-na-solana-okazalis-skamom
- https://www.bitrue.com/ru/blog/rugproof-coin-price-analysis-bitrue-alpha
- https://icoda.io/ru/best-cheap-crypto-to-buy/
Sources: Bubblemaps, Block-Chain24 (2025) 1 5 .
- https://www.block-chain24.com/news/novosti-bezopasnosti/bubblemaps-obvinyaet-startovuyu-ploshchadku-rugproof-v-sheme-vydergivaniya
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