More than 50 Solana events, datasets and cases

Here some examples from the $MASTR database;

50 plus real world events that show how Solana became an extraction machine:

Every point refers to a real world event, dataset, study or case with documented facts. It is not complete (by far), but it is more than enough to show a clear pattern.

1. August 2021

Luna Yield becomes one of the earliest recorded Solana DeFi rug pulls, disappearing with about 6.7 million USD worth of user funds, flagged in later academic work on DeFi rug pull patterns.

2. January 2022

Big Daddy Ape Club promises 2222 ape themed NFTs on Solana, raises about 9136 SOL, roughly 1.3 million USD, then disappears without even delivering NFTs. Discord, website and X account vanish, marking one of Solana’s biggest early NFT rug pulls.

3. 2021 to 2024

The SolRPDS dataset compiles 3.69 billion transactions on Solana and identifies 62895 suspicious liquidity pools, with 22195 tokens labeled as rug pull candidates based on liquidity and activity patterns, showing that fraud is structural, not anecdotal.

4. Early 2022

Multiple Solana DeFi and NFT projects are catalogued in global rug pull lists, placing Solana among chains with the highest count of scam like exits according to cross chain security surveys.

5. February 2022

Investigations into early Solana NFTs like Big Daddy Ape Club appear in mainstream NFT media as one of the most painful rug pulls in the history of the chain, cementing Solana’s early reputation problem.

6. 2023
Academic papers on DeFi rug pulls begin to consistently highlight Solana as one of the chains with the highest proportion of rug pulls relative to project lifespan and liquidity, compared to other chains like Ethereum and BNB Chain.

7. Late 2023

Early experiments in Solana meme coins show large numbers of abandoned projects and thin liquidity pools, prefiguring the https://t.co/gKLwp9DDzh era and leading risk analysts to flag Solana as a high rug pull chain.

8. January 2024

https://t.co/QXqoP4WBTM launches and rapidly becomes the default launchpad for Solana meme coins, enabling instant minting and trading of tokens and setting the stage for millions of speculative tokens with minimal friction.

9. January to March 2024

https://t.co/QXqoP4WBTM traffic and token creation ramp up. Within months millions of tokens have been deployed, yet almost none retain liquidity or community after a short burst of trading, signalling unsustainable speculation.

10. March 2024

On chain investigator ZachXBT reveals that 655000 SOL, worth about 122.5 million USD, has been sent into 27 Solana presale meme coin projects in a short presale meta wave, many of which never deliver proper tokens or products.

11. March 2024

ZachXBT also exposes 12 Solana presale meme coins that are completely abandoned in about 1 month, raising 180650 SOL, around 26.7 million USD, and leaving investors with nothing of lasting value.

12. March 2024

Articles explaining Solana meme coins begin to warn outright that entire waves of presale and launch activity are ending in scams or zero value projects, using the ZachXBT data as a primary example.

13. Mid 2024

SolRPDS authors finalize their Solana rug pull dataset, confirming tens of thousands of suspicious pools and over twenty two thousand rug pull tokens, which is an unprecedented level of documented fraud on a single chain.

14. Late 2024

https://t.co/QXqoP4WBTM’s daily trading volume surpasses 100 million USD, driven largely by ultra short lived meme coins that subsequently collapse, according to Solidus Labs analysis.

15. November 2024

A teenager launches a Solana based memecoin called QUANT live on stream using https://t.co/QXqoP4WBTM, then dumps 51 million tokens for 128 SOL, around 30000 USD, in a classic live rug pull that becomes viral on X and in crypto media.

16. November 2024

Despite the rug pull, the QUANT token later pumps to a reported market cap in the tens of millions after the community ironically embraces the scam, a symbolic proof that speculation is completely detached from fundamentals.

17. November 2024

Crypto risk education articles start using the QUANT event as a case study of how Solana meme coin markets allow teenagers to rug live on stream and still profit, while late buyers end up trapped.

18. Late 2024

Lists of the biggest crypto rug pulls of 2024 include multiple Solana based meme coins, such as Hawk Tuah and Sharpei, which run through typical patterns of hype followed by near total collapse.

19. Late 2024

The QUANT incident and others cause large exchanges and analytic firms to publish new education pieces on Solana rug pulls and how https://t.co/QXqoP4WBTM and similar tools enable this behaviour.

20. Late 2024

Regulators in the United Kingdom place https://t.co/QXqoP4WBTM on the FCA warning list for operating without authorisation, calling out the high risk to consumers. https://t.co/QXqoP4WBTM responds by blocking users from the UK.

21. December 2024

Analysts highlight that Raydium’s V4 automated market maker has been used for hundreds of thousands of pools, and that about 93 percent of them show soft rug pull behaviour with drastic liquidity sweeps after early buyers enter, according to Solidus Labs methodology.

22. December 2024

The same analysis shows that rug pulls cluster around small to mid sized amounts, with a quarter involving under 732 USD in liquidity, but also include a top tier event of about 1.9 million USD stolen in a single sweep.

23. December 2024

Reports estimate that Solana rug pulls and pump and dump schemes have created a significant regulatory and reputational risk for any institution that allows unmonitored Solana meme coin trading.

24. January 2025

Academic work on https://t.co/QXqoP4WBTM characterises it as a platform that commodifies Ponzi like tokenomics, with over 99 percent of tokens collapsing and value depending on continuous new entrants rather than fundamentals, directly enriching early insiders.

25. January 2025

Global scam education and risk management firms classify Solana meme coins as one of the highest risk retail products, citing concentration of insider holdings, anonymous deployers and lack of liquidity locks.

26. February 2025

Javier Milei publicly pushes LIBRA, a Solana memecoin, triggering a speculative frenzy that later collapses and provokes mainstream Spanish language coverage calling it a fraud and a textbook rug pull case that damages Solana’s reputation and prompts the resignation of Meteora co founder Ben Chow.

27. February 2025

Parallel coverage discusses a wave of presidential memecoins, including those linked to Donald Trump, as an emerging phenomenon that mixes politics and speculative tokens, turning public office into a background for meme coin extraction.

28. February 2025

Analyses note that Solana’s association with speculative presidential memecoins is starting to scare away institutional projects and developers who do not want their work associated with casino style behaviour.

29. March 2025

United States regulatory documents mention meme coins and rug pulls explicitly as targets for enforcement, noting that digital asset scams, fake development projects and smart contract abuses will be prioritised by the Department of Justice and the Securities and Exchange Commission.

30. March 2025

New York state lawmakers introduce a bill that would criminalise code based crypto scams such as rug pulls, focusing on token creator behaviour around launch and trading, a direct answer to the flood of cases seen on chains like Solana.

31. April 2025

A class action lawsuit is filed in New York against the Solana DEX Meteora and connected entities, alleging that the launch of the M3M3 meme coin constituted an orchestrated 69 million USD rug pull, with insiders allegedly controlling over 95 percent of the supply and dumping after early trading.

32. April 2025

The same case is referenced in compliance reports as proof that Solana meme coin events can reach tens of millions in scale and pose serious institutional risk for platforms that list them or facilitate trading.

33. May 2025

Solidus Labs publishes its Solana rug pull and pump and dump report, showing 98.6 percent of https://t.co/QXqoP4WBTM tokens collapsing into worthless scams and 93 percent of Raydium pools showing rug pull like liquidity sweeps, cementing Solana’s status as ground zero for memecoin fraud.

34. May 2025

Binance and other large players summarise the Solidus findings, reiterating that over 7 million tokens were analysed and only about 97000 maintained liquidity above 1000 USD, while the vast majority went to essentially zero.

35. May 2025

Mainstream media articles about crypto scams begin using Solana memecoins and https://t.co/QXqoP4WBTM as primary examples of how unregulated speculative platforms can generate millions in fee revenue while wiping out retail portfolios.

36. June 2025

Compliance and anti fraud firms note that while the absolute number of rug pulls year over year may be stabilising, the complexity of schemes has increased, with more emotional narratives and manipulative stories used to bait victims, often on Solana.

37. June 2025

Scam education content describes deepfake driven token schemes and sophisticated social engineering campaigns that funnel investors into Solana memecoins, sometimes using celebrity images or fake partnerships to give tokens false legitimacy.

38. Summer 2025

Litigation builds against https://t.co/QXqoP4WBTM itself, including a class action that accuses the platform of operating as an unregistered securities issuer and knowingly facilitating pump and dump schemes such as PNUT and other collapsed tokens, while marketing itself as a harmless meme platform.

39. Summer 2025

The complaint against https://t.co/QXqoP4WBTM alleges that the platform gamified speculative trading, targeted inexperienced investors and failed to perform any meaningful user verification or risk disclosure, reinforcing the narrative of systemic exploitation.

40. September 2025

A developer launches a Solana memecoin called 120 Hours on https://t.co/QXqoP4WBTM, claiming to be terminally ill and having only 120 hours to live, promising that trading fees will support his family. The token reaches a market cap above 500000 USD, then the creator drains liquidity, sending the value effectively to zero and turning a fabricated tragedy into a profitable rug pull.

41. September 2025

Coverage of the 120 Hours case emphasises how easily emotional narratives and pity stories can be monetised through Solana memecoins when there are no effective safeguards, no due diligence and no meaningful oversight.

42. 2024 to 2025

Social media investigations uncover multiple https://t.co/QXqoP4WBTM launches where deployers reuse the same addresses, repeat the same pattern of seeding liquidity, using bots to create volume, and then sweeping liquidity once the pool grows, confirming industrial scale rug behaviour.

43. 2024 to 2025

On chain analytics firms publish dashboards showing that most https://t.co/QXqoP4WBTM tokens go to zero activity shortly after launch, which is the quantitative backbone behind the 98.6 percent scam statistic.

44. 2024 to 2025

Academic case studies describe https://t.co/QXqoP4WBTM as a legal commodification of Ponzi like tokenomics, pointing out that its fee model and bonding curve structure are designed in ways that naturally favour early insiders and disadvantage late entrants who become the exit liquidity.

45. 2024 to 2025

Risk frameworks from compliance vendors now include dedicated Solana memecoin risk modules, because the combination of low fees, fast block times and unvetted launchpads has made Solana a focal point of chain level fraud analysis.

46. 2024 to 2025

Data shows that even when rug pulls decline in pure count, they increase in sophistication, often leveraging cross platform laundering paths that end on large exchanges such as Binance after funds leave Solana.

47. 2024 to 2025

Case studies like the WIRED memecoin hack show how attackers can combine social media account takeovers with https://t.co/QXqoP4WBTM launches to execute pump and dump events in minutes, earning thousands of dollars while leaving hundreds of victims behind.

48. 2024 to 2025

Global lists of top scam meme coins increasingly feature Solana based examples such as LIBRA and HAWK alongside older scams like SQUID, showing how Solana has joined and in some metrics surpassed earlier scam hubs.

49. 2024 to 2025

Educational guides warn explicitly that Solana meme coins launched on https://t.co/QXqoP4WBTM are statistically almost certain to fail or be fraudulent, referencing the Solidus Labs 98.6 percent figure as a key risk metric that no responsible investor can ignore.

50. 2025
Structural DeFi rug pull research that spans multiple chains concludes that Solana records the highest rug pull share among chains studied, with minimal lifespans and high extraction per event, definitively placing Solana at the centre of academic discussions on crypto fraud.

51. 2025
Mainstream financial newspapers report that the Libra scandal and the wider memecoin mania are threatening Solana’s overall reputation, scaring off serious developers and institutional capital and framing the chain as more of a casino than a technology platform.

52. 2025
The co founder of Solana Anatoly Yakovenko responds to the Libra chaos with a bleak comment on X saying that death is the only way out of this hellscape, a line that captures how even core leadership recognises the psychological and reputational damage done to the ecosystem.

The people running the chain love to parade numbers like wallet counts, daily active users and trading volume as if these metrics prove organic growth.

What they never say out loud is the uncomfortable truth that the vast majority of this activity comes from bots, wash trading, farmed wallets, recycled presale addresses and scam driven volume.

They sell the illusion of a booming ecosystem while hiding the fact that these metrics are inflated by automated extraction machines rather than real human participants.

And the deeper problem is even more damaging.

More than 90 percent of people who flood into these ecosystems believe they can get rich fast and easy. They think they can mint a meme coin, ride a presale, or chase a hype wave and walk away with life changing money.

When they finally realise that real value requires building, patience, time, consistency and actual work, they disappear instantly. They leave the moment they understand that there is no shortcut and no lottery built into the chain.

This creates a cycle where ecosystems are filled with short term speculators, bots and opportunists instead of builders, innovators or long term contributors.

It leads to a culture where hype replaces value, extraction replaces creation and the numbers look good only because they hide how rotten the foundation truly is.