A report from Solidus Labs just confirmed what everyone with a pulse already felt: a staggering 98% of the tokens launched on Pump.fun are elaborate scams. The platform, once hailed as a degen’s paradise on Solana, is apparently just a factory for fraud, spitting out rug pulls and pump-and-dumps faster than you can say "exit liquidity."
Let’s say you’re a broke college student with a wild dream: get rich quick on Pump.fun, Solana’s infamous memecoin casino. You’ve got $10, a meme idea, and zero shame. Here’s how it usually goes down.
Sure, you just made “easy money”—but at what cost? The people who bought in late are furious, and your DMs fill up with angry messages. The hype dies, the token’s value drops to zero, and you move on to the next meme. Welcome to the cycle.
Let's be honest, this isn't surprising. The platform was always a chaotic playground for high-risk traders. For a little while, Pump.fun seemed like a new frontier where anyone could launch a token easily and cheaply. It felt open to everyone, but that dream quickly turned sour. The system that was meant to be fair ended up giving creators an unfair advantage to sell off their tokens and leave others with the losses.
The drama that followed is intense. We've seen stories of people creating tokens, earning a lot of money, and then having their personal information exposed by angry investors. Sometimes, the community will even intentionally buy a failed token just to show the creator how much more money they could have made if they hadn't been so greedy. It's a strange and messy cycle of revenge.
So, how do you avoid becoming the next cautionary tale? Here are some tips that are actually, like, useful:
- DYOR isn't just a meme: Seriously, do your own research. If the "community" is just a handful of anonymous accounts spamming rocket emojis, run.
- Check the dev's wallet: Is one person holding a massive chunk of the supply? Yeah, that’s a red flag. They're getting ready to dump on you.
- Vibes can be deceiving: A cool meme and a funny name do not a legitimate project make. Look for actual substance, if any even exists in the world of meme coins.
- If it seems too good to be true, it is: That token isn't going to a million dollars overnight. It's going to zero.
- Don't invest more than you're willing to set on fire: Seriously. Consider any money you put into these things as already gone. If you get some back, it's a pleasant surprise.
What’s the Lesson?
It’s cheap and easy to make money on Pump.fun if you don’t care about burning bridges or your reputation. But remember: for every quick winner, there are dozens of losers. The platform is designed for pump-and-dump schemes, and the only real winners are those who get in early and get out fast.
If you’re thinking of trying this, ask yourself: is it worth the risk, and are you okay with the fallout? Because in the end, the only thing cheaper than launching a token on Pump.fun is the trust you’ll lose along the way.
