Fraudulent Pump.Fun Tokens Cause Concern in Solana Ecosystem

A new report from Solidus Labs has revealed a troubling trend: over 98% of tokens launched on the Pump.fun platform since January 2024 have been flagged as fraudulent on the Solana blockchain, raising serious concerns about the legitimacy of token creation services within the ecosystem. The scale of this fraud is significant, potentially resulting in substantial losses for retail investors and posing a risk to the Solana network’s reputation.