Bubblemaps raised concerns about Rugproof, a Solana-based launchpad claiming to prevent rug pulls. Bubblemaps alleged the project may be orchestrating the exploit it claims to prevent. Rugproof claimed zero-risk early investment and rewards for holders, but Bubblemaps data showed otherwise. 50% of tokens were bought at launch. Rugproof’s team details remain undisclosed. Bubblemaps visually tracked tokenholder connections, revealing 162 wallets receiving SOL tokens from the project creator. This distribution setup mirrors past rug pulls. Memecoins surged in July, reaching an $85 billion valuation, up 54% from June 30. The market cap has corrected to $73 billion but remains 32% higher than June. Mercuryo’s CEO attributed the surge to Pump.fun, memecoin accessibility, and Bitcoin’s new all-time highs. The mood on memecoins has flipped bullish.

Read more at Cointelegraph: Bubblemaps Flags ‘Rugproof’ Launchpad for Alleged Rug Pull