Blockchain analytics platform Bubblemaps raised concerns about rugproof, a self -described Solana -based launchpad that says protect investors from rug pulls.
Ironically, bubblemaps It is said That the project can be the same type of exploitation it claims to avoid. On Monday, the analytics platform shared information about the project, saying that someone had built a “rugproof launchpad” just for the so -called “rug” users.
Rugproofs claim its website that it allows anyone to create tokens with “zero-risk early investment, anti-dump mechanics and built-in rewards for loyal holders.” It also claims to make tokens buyback and offer life rewards.
However, it is said that bubblemaps whose data shows otherwise. The Analytics platform said 50% of the project tokens were “bored of launch.”
Cointelegraph reached the rugproof team but did not get a response.
Token creator shares Sol in 162 purses to buy rugproof
Using the visual bubble map that monitors onchain data, the analysts of bubblemaps have shown the connection between the project tokenholders.
According to In the bubblemaps, the project creator sent Solana (Sol) tokens in 162 different wallets. Later, the wallets bought half of the token supply. “The creator of the O93G6B token sent Sol to 162 wallets. These dominates bought 50% of the rugproof supply at the launch,” BubbLlemaps said.
This structure reflects the sequence of many alleged rug pulls in the past.
Moving to send crypto possessions from the token creator to 162 Dompets appears to be an attempt to create an illusion of a fair and decentralized launch despite being linked or controlled by the same creature.
Project details, such as team identities, tokenomics or intelligent contractualization, remain unspecified and difficult to prove by its public data and its channels.
Bubblemaps are a platform that changes onchain data on interactive bubbles, allowing users to see token distribution and purse contacts more easily. The platform often points to purse clusters that indicate control of the supply of a project.
On July 15, the platform shared A “bubble map,” a visual representation of a project called ALT, which crashes from a $ 190 million to a $ 3 million market cap due to a so -called rug pull.
Related: Influencer who coined the ‘Memecoin Supercycle’ seated at $ 68m income, data suggests
The Memecoin sector filed a bullish in July
Rug pull allegations came as the Memecoins rallied in July. On Wednesday, the general appreciation for Memecoins rose to $ 85 billion, up to 54% compared to June 30. At the time of writing, the sector market cap was corrected at $ 73 billion, which is still up to 32% compared to June.
Mercuryo co-founder and CEO Petr Kozyakov had previously told cointelegraph that the Memecoin Market Surge was triggered by a mix of events, including Pump.Fun Initial Coin offering, Memecoin Accessibility and The Bitcoin (Btc) advance to new all-time highs.
He said the mood in Memecoins was “undoubtedly flowing on the bullish side.”
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