Solana News Today: Bubblemaps Flags 50% Token Distribution via 162 Creator-Controlled Wallets in Solana’s Rugproof Launchpad

Bubblemaps has raised concerns about potential deceptive practices in Solana’s Rugproof launchpad, revealing that 50% of the token supply was distributed through 162 wallets controlled by the project’s creator. This pattern, uncovered through onchain analysis, mirrors tactics used in rug pulls—where developers drain liquidity and exit scams—despite Rugproof’s claims of anti-rug mechanics and investor protection features [1]. The findings highlight a disconnect between the project’s marketing and its operational transparency, as Rugproof has not disclosed team identities, tokenomics, or audit details, leaving investors with limited recourse in case of fraud [1].

The suspicious distribution method involves the token creator sending Solana (SOL) to 162 wallets, which then purchased half of Rugproof’s token supply at launch. This multi-wallet strategy creates an illusion of decentralization while centralizing control, a common red flag in crypto scams [1]. Bubblemaps’ interactive bubble maps visually trace these wallet clusters, exposing the coordinated effort to simulate organic demand [1]. The analysis underscores the risks of relying solely on a project’s stated safeguards without verifiable data, particularly in rapidly evolving markets like memecoins.

The memecoin sector, which has seen a 54% surge in July 2025, reflects heightened investor optimism but also amplified vulnerabilities. Market capitalization rose to $85 billion in mid-July before correcting to $73 billion, a 32% increase from June levels [1]. This growth, driven by high-profile initial coin offerings (ICOs) and Bitcoin’s price trajectory, coincides with a spike in fraudulent activity. Rugpull allegations have persisted as a key risk, with analysts emphasizing the need for tools like Bubblemaps to identify red flags early [1].

Transparency remains a critical issue in decentralized finance (DeFi) launchpads. Rugproof’s failure to publish audit reports or team details contrasts with industry best practices, where public verification is essential to build trust. Bubblemaps’ findings reinforce the importance of onchain analytics in detecting irregularities, particularly in projects that market themselves as secure or community-driven. The lack of disclosure in Rugproof’s case not only undermines investor confidence but also highlights broader gaps in accountability within the crypto ecosystem.

Bubblemaps’ approach to onchain data analysis transforms complex blockchain transactions into visualizable formats, enabling users to detect wallet clusters and distribution anomalies. This capability is increasingly vital as memecoin projects leverage speculative hype to attract liquidity. By exposing Rugproof’s tactics, Bubblemaps demonstrates how such tools can preemptively identify risks, though their effectiveness depends on widespread adoption among investors. The platform’s analysis of Rugproof and other projects, such as ALT, illustrates the role of transparency in mitigating fraud [1].

Industry experts caution that the memecoin rally, while indicative of renewed market enthusiasm, is accompanied by heightened scam activity. The surge in July 2025 aligns with patterns seen in previous bull cycles, where rapid growth often correlates with an uptick in rug pulls. Tools like Bubblemaps are positioned as critical resources for due diligence, yet their impact hinges on user education and integration into standard investment practices. As the market evolves, the balance between innovation and risk management will determine the resilience of crypto ecosystems.

The implications of Bubblemaps’ findings extend beyond Rugproof. They underscore the necessity for platforms to adopt rigorous disclosure standards and for investors to prioritize projects with verifiable audits and transparent governance. While the memecoin sector’s volatility offers high-reward opportunities, the prevalence of deceptive practices necessitates a shift toward data-driven evaluation.

Sources:

[1] Bubblemaps Flags Possible Suspicious Token Activity in Solana’s Rugproof Launchpad July 29, 2025, https://en.coinotag.com/bubblemaps-flags-possible-suspicious-token-activity-in-solanas-rugproof-launchpad/