Pump.fun Investigation Reveals Solana Ecosystem Fraud

The Solana ecosystem suffered a significant blow when investigations into Pump.fun, an altcoin issuance platform, revealed widespread fraud and unethical practices. A detailed analysis by Solidus Labs exposed the platform’s dismal 1.4% continued rate for over seven million altcoins launched between January 2024 and March 2025. This indicates a significant number of these coins were involved in rug pulls and pump-and-dumps, causing substantial financial losses for investors.