Solana’s Nightmare: How Meme Coin Factories and Speculation Turned Hope Into a Cash Extraction Machine The Brutal Evidence Behind Solana’s Collapse Into a Scam Factory, a brutal long tweet 👇 Solana once promised speed, near zero fees and mass adoption. It was hailed as a blockchain that could help crypto go global. Today it stands exposed as the largest playground for large scale extraction, scams and rug pulls. A study called SolRPDS analysed 3.69 billion transactions on Solana from the years 2021 to 2024. The result was shocking. It identified 62,895 suspicious liquidity pools. Among these pools 22,195 tokens showed clear rug pull patterns. That means withdrawal of liquidity, inactivity and abandonment of the project. The metrics are clear. Number of liquidity adds and removes. Ratio of adds to removes. Time of the last swap. Inactivity status. These indicators allow an objective classification between legitimate and fraudulent pools. This data shows very clearly that the problem on Solana is not an isolated case. It is structural. The scam tokens outnumber legitimate projects many, many, many times over. Let's begin: 🔺Meme Coin Launchpads and DEX Pools as Factories for Fraud A central factor in this crisis are platforms like Pumpfun and DEXes like Raydium. According to the 2025 report by Solidus Labs, more than 7 million tokens have been created on since the beginning of 2024. Out of these only about 97,000 tokens maintained liquidity of more than 1,000 USD. The rest became practically worthless almost immediately or were designed as scams from the start. That means a survival chance of less than 1.4 percent. You can hardly express systemic fraud more clearly than that. Solidus Labs found further that 98.6 percent of all tokens launched on Pump fun are classified as rug pulls or pump and dump schemes. In parallel, Raydium shows the same pattern. In an analysis of 388,000 liquidity pools, around 93 percent displayed typical soft rug pull characteristics. These pools attract investors with liquidity, create hype, draw money in and as soon as enough capital is locked, liquidity is pulled and investors are trapped. The financial impact is documented. The median rug pull caused losses of about 2,832 USD. Individual cases reached up to 1.9 million USD in damage. These statistics clearly prove that the meme coin and DeFi infrastructure on Solana was an engine of value destruction, not a system for creating real value. 🔺Why Solana’s Technical Strength Turned Into a Risk The technical properties of Solana, extremely low fees with transaction costs often being fractions of a cent and very fast transactions with finality in under one second, were originally a strength. But exactly these advantages made Solana attractive for massive token abuse. With negligible costs, scammers could create thousands of tokens, start listings, flood pools, dump on buyers and repeat the whole process again and again faster than any oversight or regulation could intervene. The studies show that many pools had short term liquidity but then no trading activity, no swaps and no real users anymore. These are classic signs of rug pulls. In this way Solana’s architecture turned its former unique selling point, speed and cheap transactions, into a perfect lever for systemic fraud. 🔺Regulation and Warnings Highlight the Risk As scam volume increased, regulators began to step in. Based on the reports, Pumpfun was officially classified as a high risk platform. The market started to monitor platforms and DEXes more closely. This regulatory pressure shows that fraud on Solana was not only a technical or moral issue. It is a systemic risk for investors, platforms and the entire DeFi ecosystem. 🔺The Bigger Picture: What This Data Means for Crypto The combined results from SolRPDS, Solidus Labs and independent analysts paint a very clear picture. The meme coin economy on Solana was not a side phenomenon. It was a structural problem at chain level. ➡️Millions of tokens created ➡️More than 60,000 suspicious pools ➡️Tens of thousands of tokens with proven rug pull patterns ➡️98.6 percent of new tokens effectively worthless ➡️93 percent of pools showing manipulative behaviour These numbers make it obvious that every new wave of tokens on Solana carried a very high probability of being a scam project. For investors this was a game with heavily rigged odds. The losses are not only financial. Trust and credibility, and the chance for real DeFi innovation, all of that was destroyed. Solana stopped being seen as a serious platform. It was seen as a minefield. 🔺What Must Change: Transparency, Accountability, Real Value If crypto wants to regain credibility, very fundamental changes are needed. First, token launches must be transparent. Every token needs verifiable code audits. Ownership structures must be openly disclosed. Second, liquidity pools must not be anonymous and uncontrolled. There must be locking mechanisms, locked liquidity and transparent management of LP tokens. Third, monitoring and on chain analysis must become standard and projects like ours should be the watchdogs. Datasets like SolRPDS are essential tools, not academic luxuries. 🔺 Fourth, promoters, launchpad operators and DEX operators must be held accountable when they enable or tolerate fraudulent projects.🔺 Fifth, the community must reward real long term value. Utility, technology and sustainability. Not hype, not new memes and not quick profit. Crypto needs protection mechanisms, not promos. It needs projects with real goals, not exit scams. - by $MASTR crypto project