Solana blockchain meme coin developers stole $ 1 million from investors

The developers of the CONDOM meme coin on the Solana blockchain SOL $184.91 Solana -0.24% Market capitalization $88.63 billion VOL. 24 hours $0.72 billion are suspected of fraud, as a result of which investors lost almost $ 1 million in SOL tokens. Bibliotech writes about it.

The team collected 4965 SOL in a pre-sale of the coin, but then deleted its own page on the X platform. Whale Insider reports that the community suspects the CONDOM team of committing fraud, which is known in the community as «pulling the rug.»

User X, who goes by the pseudonym Harfordton, called for caution when investing in crypto projects. He emphasized that more than 50,000 followers, including famous people, had subscribed to the CONDOM account.

In his turn, a crypto expert under the pseudonym ZachXBT also said that since March 12, 33 pre-sales have taken place in the Solana ecosystem, attracting 796,000 SOL tokens. However, most of the projects were not transparent. ZachXBT provided data on at least four cases of «rug pulling» with a total loss of about 25.4 thousand SOL. However, the crypto expert added that such data still needs to be finalized.

No Worries strongly recommends that readers do not invest in dubious crypto projects and little-known digital assets!