The recent reappearance of Sam Bankman-Fried on X has spurred attempts to launch fraudulent memecoins. This coincides with a surge in fake memecoin rug pulls, as the crypto market continues its downward trend. Experts attribute this surge to increased susceptibility and opportunistic activity among some users. 2023 witnessed several high-profile rug pull scams including those linked to Libra token promoted by Argentine president Javier Milei and celebrity-branded tokens. These incidents caused significant losses for investors. Now, with Sam Bankman-Fried’s return in the spotlight, opportunistic scammers have capitalized on the interest surrounding his reappearance, launching a fake memecoin project shortly after his post.