<ul><li>A report from Solidus Labs unveiled that 98.6% of tokens on Pump.fun are categorized as rug pulls or pump-and-dump schemes on the Solana blockchain.</li><li>Solana's low fees and user-friendly DEX have made it a hub for meme coin scams, with Solidus warning investors of the growing memecoin fraud in the ecosystem.</li><li>Pump.fun, a Solana-based token platform, witnessed daily trading volumes exceeding $100 million, driven by speculative meme coin activity, with a majority of tokens collapsing into worthless schemes soon after launch.</li><li>The platform faced legal troubles, including class-action lawsuits for allegedly violating U.S. securities laws and revenue crashes due to disturbing broadcasts by token creators.</li></ul>

98% of Tokens on Pump.fun Are Rug Pulls or Fraud: Report

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