Report: 98% of the "meme coin factory" Pump.fun tokens turned out to be a scam

According to a report by Solidus Labs, 98.6% of the meme-coins launched on the Pump.fun platform are associated with fraudulent schemes such as rug pull and Pump & Dump.

98.7% of @pumpdotfun coins = pump & dumps. 93% of @RaydiumProtocol pools = rug pulls.

Investors beware as the @solana ecosystem continues to grow, it’s increasingly becoming ground zero for memecoin fraud.

Read the 2025 Rug Pull Report:

— Solidus Labs (@Solidus_Labs) May 8, 2025

By January, more than seven million coins had been launched on the platform, but only 97,000 of them maintained liquidity of at least $1000.

The peak of activity in terms of the number of new coins and trading volume occurred at the beginning of 2025.

Data: Solidus Labs. The metrics of the popular decentralized exchange Raydium based on Solana confirmed a troubling trend:

• 93% of 388,000 liquidity pools of assets exhibited rug pull characteristics;
• the average amount of damage from scams was $2832, in 25% of cases — $732;
• the maximum loss amount reached $1.9 million.

"> Such deals demonstrate the wide scale of exploitation of market participants, with hundreds of traders regularly becoming victims of incidents," the authors of the report noted.

Recall that in CoinGecko, meme coins were named the most popular narrative of the first quarter of 2025.