12 Solana Meme Coins Crumble In Massive Rug Pull

Twelve Solana-based presale meme coins launched just a month ago turned out to be a rip-off after raising over 180,650 SOL tokens worth approximately $27 million. This alarming fact was revealed by prominent blockchain researcher ZachXBT. share A list of token names and their X handles. Encourages users to avoid interacting with the token.

Just over a month has passed and the 12 Solana presale meme coins have been completely abandoned after raising over 180,650 SOL ($26.7 million). I would avoid future projects launched by these founders. I was curious how much of his SOL was transferred as a result of the presale meta and calculated that he raised >655,000 SOL ($122.5 million) in 27 presales.

Not only scammers, but even social media influencers are under intense scrutiny. One of them is controversial YouTube personality Bryce Hall, who promoted a dubious Solana presale for a meme coin named URF, which allegedly raised around 2,400 SOL. [around $450,000]. Shortly after the campaign, the URF team disappeared. His social media activity was suspended on March 26th and no further updates were provided.

Investigation revealed that the funds raised are currently being funneled into trading other meme coins rather than into the development of URF. The incident highlighted the potential risks in the largely unregulated cryptocurrency presale environment.

FTX plans auction of valuable Solana tokens

In another significant development, the FTX Estate and its collection of Solana tokens sparked market interest by garnering a whopping $1.9 billion after selling a large number of these tokens at a set price. But this time they changed things. FTX plans to not only put a price tag on these coins, but also hold an auction. Details are being kept under wraps, but Mike Cagney, the organizer of the digital art sale, has added a new twist.

These tokens, currently held in vaults, are currently priced well below their future value to entice buyers willing to bet on their future value. Despite the potential for price fluctuations, these tokens are attracting strong interest from investors hoping to score big when they are finally released.

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