Investors Lose $150 Million in Presale Scams During Solana Memecoin Frenzy
Article Rewrite:
Headline: Scammers Drain $150 Million from Solana Meme Coin Investors in Recent Wave of Presale Scams
Introduction: The Solana blockchain has been buzzing with excitement over meme coins, attracting investors from around the world. However, this enthusiasm has been dampened by a troubling trend within the community – presale scams and rug pulls, resulting in losses of nearly $150 million in recent days.
Advertisement:
[Insert Image]
[Insert Image]
The Rise of Deception: Onchain investigator ZachXBT has uncovered a disturbing wave of fraudulent activities, identifying 34 presale scams that have drained over 796,000 SOL (equivalent to roughly $149.2 million) from March 12 to the present.
Let’s take a closer look at some of the recent presale scams:
– 7000 SOL was sent to @Sartoshi0x, who secretly pocketed 62% of the SOL raised in the presale and failed to distribute the promised tokens.
– Another 2100 SOL was sent to @Jared_eth, who posed as a fake Jared MEV bot account. This account received an additional $440K for a presale, resulting in significant losses for investors due to possible market manipulation.
– @bluekirbyftm, named after a scammer, conducted a foggy presale that ended in a rug pull. Initially promising to refund the money, the scammer later denied making such a promise, leaving investors confused and betrayed.
– @Vombatus_eth executed a rug pull right after a vulnerable presale, causing even more heartbreak for investors who had already suffered losses.
Read Also: Solana-Based Memecoins, Slerf And Book Of Meme (BOME) Decline As Hype Fades
Staying Optimistic but Cautious: These incidents shed light on the vulnerabilities within the Solana meme coin ecosystem, emphasizing the prevalence of phishing attacks. A recent breach involving the Trezor wallet provider’s X account, compromised by hackers, resulted in a relatively minor loss of $8,100 through phishing links – significantly less than the massive sums swindled in presale scams.
As the community grapples with the aftermath of these deceitful acts, doubts arise regarding the credibility and security of investing in Solana meme coins. Investors are urged to exercise caution and resist the temptation of quick profits promised by fraudulent schemes.
Also Read: Solana-Based Memecoin Craze Takes Dark Turn: Over $100M Lost in Frauds, Scams
This tumultuous period serves as a stark reminder of the importance of conducting thorough research and understanding the underlying projects and their operators before blindly following trends.