Solana Altcoins Collapses Amidst Rug-Pull Scheme Allegations

A new report reveals a concerning trend in the Solana ecosystem, with Pump.fun, an altcoin issuance platform, facing accusations of rampant fraud and alleged rug pulls impacting investors heavily. The Solidus Labs report highlights that over 7 million altcoins created via Pump.fun between January 2024 and March 2025 had a dismal survival rate of only 1.4%, with the remaining coins disappearing into classic pump-and-dump schemes, leaving investors significantly worse off. This alleged rampant fraud has raised questions about platform security and transparency within the Solana ecosystem.