Launchpad That Claims to Prevent Rug Pulls Now Accused of Mimicking One
Bubblemaps, a blockchain analytics firm known for visualizing wallet activity, has raised red flags against Rugproof, a Solana-based launchpad that ironically brands itself as “rug pull-proof.”
Bubblemaps alleges Rugproof may be using deceptive token distribution tactics typical of rug pull schemes.
The analytics team reported that 50% of the token supply was bought at launch by wallets directly funded by the token creator. Using its bubble mapping tool, Bubblemaps visualized how the project’s creator address—o93G6B—distributed SOL tokens to 162 wallets, which in turn purchased half of the Rugproof supply at launch.
This structure, they claim, creates an illusion of a fair, decentralized token launch while maintaining covert control over the majority of the supply—a hallmark of many historical rug pulls.
Claims of Security Don’t Match Onchain Behavior
On its website, Rugproof markets itself as a next-gen Solana launchpad, promising:
- “Zero-risk early investments”
- “Anti-dump mechanics”
- “Lifetime holder rewards”
But Bubblemaps’ data suggests the opposite: a pre-structured token distribution network that gives the illusion of decentralization, while centralizing control in hidden hands.
“Someone built a Rugproof Launchpad just to rug,” Bubblemaps said in a social media post Monday.
Adding to concerns, Rugproof’s team identities, tokenomics, and smart contract audits are not publicly disclosed, making independent verification impossible at this time. Cointelegraph attempted to contact Rugproof but received no response.
Visual Data Uncovers Hidden Wallet Clusters
Bubblemaps’ tools are designed to transform complex wallet interactions into readable visuals, often surfacing suspicious token flows. A similar bubble map flagged the project ALT, which collapsed from a $190M market cap to just $3M earlier this month due to alleged manipulative practices.
“Bubble clustering often exposes token supply manipulation,” a Bubblemaps analyst said.
Memecoins Rally Despite Growing Risks
The rug pull allegations arrive during a memecoin market surge, with valuations jumping 54% in July to reach $85B, before correcting to $73B—still 32% higher than June.
Investor optimism in memecoins is back, but the risk of hidden centralization remains a serious threat, especially as unverified projects continue to ride bullish momentum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.