Solana News Today: Bubblemaps Flags Rugproof Launchpad's Centralized Token Allocation as Potential Rug Pull

Blockchain analytics firm Bubblemaps has issued a warning against Rugproof, a Solana-based launchpad that claims to safeguard investors from rug pulls, alleging the project may itself be orchestrating such a scam. Rugproof markets itself as offering "zero-risk early investment," anti-dump mechanisms, and token buybacks, but Bubblemaps’ analysis suggests a different story. According to the platform, the project’s creator distributed Solana (SOL) tokens to 162 wallets, which were then used to purchase half of Rugproof’s token supply at launch [1]. This structure mirrors classic rug pull tactics, where centralized control is masked by distributing assets to multiple wallets to simulate decentralization [1].

Bubblemaps highlighted that the project’s token creator, identified as o93G6B, funneled SOL into 162 wallets, enabling them to buy 50% of the token supply upfront. The firm argues this pre-allocation undermines claims of a fair, decentralized launch. Furthermore, Rugproof’s team identities, tokenomics, and smart contract audits remain undisclosed, exacerbating concerns about transparency [1]. Cointelegraph reached out to the Rugproof team for comment but received no response [1].

The platform’s findings are supported by its visualization tools, which map onchain interactions to identify suspicious patterns. Bubblemaps previously used similar methods to flag the collapse of a project called ALT, which fell from a $190 million to a $3 million market cap following a suspected rug pull [1]. By tracking wallet clusters, the firm aims to preemptively expose projects with centralized token distribution strategies.

The allegations against Rugproof emerge amid a broader surge in the memecoin sector, which saw its market cap jump 54% in July, reaching $85 billion. While the sector has since corrected to $73 billion, a 32% increase from June levels, the bullish trend has drawn attention to projects leveraging social media hype and influencer marketing. Mercuryo CEO Petr Kozyakov noted that the Pump.fun initial coin offering, memecoin accessibility, and Bitcoin’s record highs have fueled this growth [1].

Critics argue that Rugproof’s opaque structure and lack of verifiable safeguards exemplify the risks of speculative crypto projects. The firm’s claims of "built-in rewards for loyal holders" and "anti-dump mechanics" rely on trust in a team whose details remain hidden. Bubblemaps’ analysis underscores the importance of due diligence, as fraudulent projects often exploit the complexity of onchain mechanics to mislead investors [1].

The case highlights a broader challenge in the crypto ecosystem: the need for tools that decode onchain data to identify manipulative tactics. While analytics platforms like Bubblemaps play a critical role in exposing red flags, their effectiveness depends on user awareness and platform transparency. Rugproof’s situation serves as a cautionary tale for investors to prioritize projects with publicly available audits, clear tokenomics, and verifiable team identities [1].

Source:

[1] Cointelegraph. "Bubblemaps Flags ‘Rugproof’ Launchpad Over Alleged Rug Pull Risk." [https://cointelegraph.com/news/bubblemaps-rugproof-launchpad-alleged-rug-pull](https://cointelegraph.com/news/bubblemaps-rugproof-launchpad-alleged-rug-pull)

[2] advfn.com. "Bubblemaps Flags ‘Rugproof’ Launchpad Over..." [https://mx.advfn.com/bolsa-de-valores/COIN/SOLUSD/crypto-news/96513180/bubblemaps-flags-rugproof-launchpad-over-alleg](https://mx.advfn.com/bolsa-de-valores/COIN/SOLUSD/crypto-news/96513180/bubblemaps-flags-rugproof-launchpad-over-alleg)