Bubblemaps flags ‘Rugproof’ launchpad over alleged rug pull risk

Blockchain analytics firm Bubblemaps flagged Rugproof for suspicious token activity, alleging a deceptive launch structure mimicking a rug pull setup.

Update July 29, 1:25 pm UTC: This article has been updated to add comments from a Bubblemaps spokesperson.

Blockchain analytics platform Bubblemaps raised concerns about Rugproof, a self-described Solana-based launchpad that claims to protect investors from rug pulls.

Ironically, Bubblemaps alleged that the project may be orchestrating the type of exploit it claims to prevent. On Monday, the analytics platform shared information about the project, saying someone had built an allegedly “Rugproof Launchpad” just to “rug” users. 

Read more