Solana Presale Tokens: Blockaid Study Finds 50% Infected with Malware Between November and February

Crypto News- Solana’s resurgence hasn’t been without its fair share of challenges, particularly concerning fraudulent activities and malicious schemes, which have surged notably.

Solana Presale Tokens: Blockaid Study Finds 50% Infected with Malware Between November and February

As per insights from cybersecurity firm Blockaid, a staggering 50% of presale tokens launched between November and February were flagged as malicious. Ido Ben-Natan, co-founder of Blockaid, emphasized two crucial factors contributing to this surge in scams within the Solana ecosystem.

Rising Presale Token Adoption and Exploitative Tactics: Insights from Blockaid’s Ben-Natan

In correspondence with Unchained, Ben-Natan pointed out, “The exponential rise in presale token adoption in February and March, fueled by the popularity of legitimate memecoins, has created a fertile ground for scammers.” Additionally, he highlighted how scammers adeptly exploit users’ fear of missing out (FOMO), employing sophisticated tactics like mimicking legitimate transactions and crafting deceptive websites. Notable among the identified scammers were users Jared_eth and Bluekirbyftm.

These findings underscore the urgent need for bolstered security measures within the Solana ecosystem, as concluded by Blockaid’s Ben-Natan.

This study surfaces amidst Solana grappling with transaction performance issues due to heightened trading volumes propelled by memecoin interest and the rampant activity of programmatic trading bots inundating the blockchain network.