A new method used by fraudsters has emerged, catching Solana (SOL) holders off guard on the Pump.fun platform, leading to significant losses. Going by the pseudonym “Short Form King”, a crypto researcher sheds light on this new trend and exposes the tactics used by these fraudsters.
Rising Threat To Solana Holders
A recent social media post by Short Form King reveals that the scammers behind common schemes have devised a new method that manages to fly under the radar of most people’s research processes, making it particularly effective and detrimental to unsuspecting Solana holders.
According to Short Form King, scammers employ “well-crafted” meme coins and “experienced teams” to create the illusion of an ordinary coin, deceiving even seasoned traders.
The researcher cites the example of NOFEAR, a recent token that garnered a lot of attention due to endorsements from key opinion leaders (KOLs). However, the project turned out to be a scam, and its value
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