A market reminder and a test of bubblemaps:

The Rugproof case A few weeks ago, the cryptocurrency market was focused on the alert raised by the on-chain analysis platform Bubblemaps.😱

Bubblemaps pointed out that the Rugproof project, which supposedly offered protection against rug-pulls, may have been orchestrating one.

Bubblemaps' analysis detailed how the platform's creator distributed a large amount of Solana tokens to 162 wallets, which were then used to purchase 50% of the total token supply.🤔

This tactic created a false sense of decentralization and massive participation.😱

The team behind Rugproof, its tokenomics, and smart contract audits were not made public, which generated a clear indication of possible fraud.😨

This case reminds us of the importance of research and caution in the market, and we see the importance of the tools provided by Bubblemaps 💥

#Bubblemaps @Bubblemaps.io $BMT

Disclaimer ⚠️

The information provided in the previous post is for informational and educational purposes only. It should not be interpreted as financial, investment, legal, or tax advice.🚫

Investments in cryptocurrencies and decentralized finance (DeFi) carry significant risks, including the potential loss of the entire invested capital.⚠️

Always do your own research (DYOR - Do Your Own Research) 🫵🏻

Source: Cointelegraph🔍