Solana Presale Scams Take a Toll as Meme Coin Season Continues

cryptonews.com:

There has been a surge in presale scams amid the meme coin season on the Solana (SOL) blockchain, which continues in full force.

In a  recent post on X , crypto detective ZachXBT highlighted several presale coins that have raised concerns due to fraudulent activities and suspicions of being rug pulls. 

One instance involves X user @Sartoshi0x, who received 7,000 SOL as part of a presale but secretly kept 62% of the funds without distributing the tokens as promised. 

Another incident saw 2,100 SOL sent to a fake Jared MEV bot account (@Jared_eth).

Additionally, @bluekirbyftm, named after a scammer, also conducted a rug pull on their presale, initially claiming they would refund investors but later reneging on that promise.

Furthermore, @Vombatus_eth is responsible for yet another rug pull after a 13,000 SOL presale. 

Let’s check in on a few of the recent presale coins

-7000 SOL sent to @Sartoshi0x who secretly pocked 62% of SOL from presale & did not fully distribute tokens

-2100 SOL sent to @Jared_eth a fake Jared MEV bot account (people sent another fake Jared account $440K for a presale… https://t.co/3TNwcpNkh8 pic.twitter.com/YyVkwcN9fS

— ZachXBT (@zachxbt) March 19, 2024

The surge in Solana meme coin presale scams comes as these events have amassed a staggering $150 million in SOL from only 33 presales. 

Despite the allure of quick gains, ZachXBT emphasizes that many of these projects, often promoted by smaller accounts, are either dubious or outright scams.

Moreover, the lack of transparency and accountability within the meme coin space on Solana heightens the risk for investors owing to the prevalence of rug pulls and disappearing funds. 

Andrei Grachev, Managing Partner at DWF Labs, has also recently