Bubblemaps uncovers alarming signs in Rugproof’s token launch, revealing a suspicious distribution controlled by the creator that echoes classic rug pull tactics in the crypto space.
Blockchain analytics firm Bubblemaps has exposed alarming signs of a possible rug pull scheme centered around Rugproof, a Solana-based launchpad that markets itself as a safeguard against crypto scams.
Despite Rugproof's bold claims of providing "zero-risk early investment" and "anti-dump mechanics," Bubblemaps' onchain data paints a very different picture — one that mirrors the hallmarks of the very scams it promises to protect against.
Bubblemaps detailed how the Rugproof token launch involved half of the supply being bought up by 162 wallets, all initially funded by the token's creator. This tactic, often used in high-profile rug pulls, fabricates the illusion of decentralized token ownership while actually concentrating control in the hands of a single entity. Such maneuvers enable the orchestrator to manipulate price and liquidity, ultimately enabling a swift exit that leaves investors holding worthless tokens—a classic rug pull scenario.
Token Distribution Masks Centralized Control
The suspicious token distribution strategy is unveiled through Bubblemaps' signature bubble map visualization, revealing tight clusters and wallet connections. The project’s founder moved Solana (SOL) tokens into 162 different wallets, which immediately purchased 50% of the Rugproof token supply at launch. This simultaneous acquisition mimics a decentralized launch but is controlled to perpetuate a false sense of security and market activity.
Rugproof's website boasts of token buybacks and lifetime rewards for loyal holders, but the lack of transparency is stark—no information about the team, audits, or verified tokenomics is publicly available. This absence of verifiable data compounds fears of a manufactured scheme designed to exploit investors' trust.
A Worrying Pattern in Crypto Launchpads
This alleged rug pull attempt coincides with a broader crypto trend where launchpads and memecoin projects spike rapidly but are followed by sudden crashes and investor losses. Recent data shows memecoins surged to an $85 billion market cap in July before correcting to $73 billion, fueled partly by aggressive launches and hype. Experts note the memecoin space, while booming, remains vulnerable to intricate scams involving multi-wallet strategies and coordinated dumps.
Bubblemaps’ revelations serve as a grim reminder of the evolving complexity of crypto fraud. By fabricating decentralization and "fair" launches, malicious actors create convincing yet deceptive token distributions. Investors rely heavily on blockchain transparency tools to detect such schemes, but increasingly sophisticated scams make vigilance essential
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Rugproof Launchpad Faces Rug Pull Allegations
ubblemaps uncovers suspicious token tactics in Rugproof launchpad, hinting at a potential rug pull despite claims of zero-risk investments.