A “cryptocurrency detective” under the pseudonym ZachXBT identified 12 memcoin projects issued on the Solana blockchain, which were abandoned by the founders almost immediately after the preliminary sale of assets. That is, half of the projects launched per month remain forgotten.

27 memcoin projects based on the Solana blockchain attracted investor assets worth about $112 million over the past month. However, almost 50% of these promising projects that aroused the interest of crypto investors were immediately abandoned, and some did not issue a single token after the investment round.

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The largest abandoned memecoin projects included LIKE, MOONKE, FROG, TEMPLE and SORRY, which were able to raise $2 million each. Other abandoned projects raised from $1,400 to $180,000. Anonymous developer @Jared_eth was able to collect about $800,000 from investors for his project without launching a digital asset at all. At the same time, crypto investors were not embarrassed that the @Jared_eth account in X had long been included in the list of those compromised by the Web3 ROS security platform.

ZachXBT complains: the experience of pre-sale of memcoins on Solana “didn’t teach anyone anything” and a similar investment madness is happening on the BASE blockchain, supported by the Coinbase crypto exchange.

Previously, Solana co-founder Anatoly Yakovenko appealed with a warning that “pre-purchasing memcoins before the start of the project does not make any financial sense.” He urged users not to give in to the hype and stop investing in pre-sales of memcoins.

The day before, Cardano founder Charles Hoskinson shared a chat recording with subscribers on social network X, where he exposed a fraudster who tried to impersonate Solana co-founder Anatoly Yakovenko.