Half Of Presale Tokens Launched On Solana Ecosystem Are Malicious, Reveals Blockaid Data

According to PANews, data shared by blockchain security firm Blockaid reveals that 50% of the presale tokens launched on the Solana ecosystem between November last year and February this year were malicious. This data highlights two key factors that have facilitated the spread of scams within the Solana ecosystem. Blockaid co-founder Ido Ben-Natan pointed out that firstly, the popularity of legitimate meme coins has led to an exponential increase in the number of presale tokens in February and March, providing fertile ground for scammers. In addition, scammers are adept at exploiting users' FOMO (Fear Of Missing Out) emotions, adopting complex strategies such as mimicking legitimate transactions and creating deceptive websites. These findings underscore the need for enhanced security measures within the Solana ecosystem. The release of this study comes at a time when the performance of Solana in handling transactions is being affected due to the popularity of Meme coins and the large amount of spam sent to the blockchain network by programmatic trading bots.