Solana-based meme coin team suspected of nearly $1m rug pull

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The CONDOM meme coin staff on the Solana community collected 4,965 SOL as a part of the coin’s presale and deleted its X web page.

The funds raised have been estimated at $906,000 on the time. Whale Insider studies that the group suspects the CONDOM staff of committing a rug pull.

Consumer X, who used the pseudonym Harfordton, referred to as for warning when investing in crypto initiatives, no matter reputation. The account had over 50,000 followers on X and was adopted by large names.

Solana meme coin rug pulls turning into pattern

Beforehand, the URF meme coin staff disappeared with 2,400 SOL, value $450,000, collected through the coin’s presale. The builders carried out a rug pull lower than 24 hours after URF launched. The challenge’s final exercise on social networks was March 26. The URF staff additionally used the funds raised through the asset’s sale to commerce different meme tokens on Solana.

A crypto skilled underneath the pseudonym ZachXBT additionally stated that since March 12, 33 presales have taken place within the Solana ecosystem, attracting 796,000 SOL.

Nonetheless, many of the initiatives turned out to be opaque. ZachXBT offered knowledge on at the very least 4 instances of rug pulls with whole injury of round 25,400 SOL. Nonetheless, the detective added that such knowledge nonetheless must be accomplished.

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