93% of liquidity pools on Raydium show alarming signs
In addition to Pump.fun, Solidus Labs found that 93% of the 361,000 liquidity pools on Raydium exhibit 'soft signs of rug pulls.' This is a type of fraud where developers gradually withdraw liquidity, leading to losses for investors. Notably, Raydium recently launched LaunchLab to compete with Pump.fun.
About 25% of these scams involved amounts less than $732. However, the median amount of the rug pull was around $2,832, while the largest identified fraud reached $1.9 million. These amounts seem relatively small compared to multimillion-dollar scams. However, the vast number of affected pools underscores the scale of the problem.
A common feature between the two platforms is that both are built on the Solana blockchain. Solana is known for its high transaction speeds (it processes thousands of transactions per second) and low costs (averaging just $0.00025 per transaction). Due to these advantages, Solana has become a primary target for criminals and fraudsters. According to experts, it has become the second most popular blockchain platform for criminal transactions after Ethereum.
