Bubblemaps flags ‘Rugproof’ launchpad over alleged rug pull risk

Key Points

1. Bubblemaps flagged Rugproof for suspicious token distribution, claiming 50% of the project's tokens were 'bundled at launch' and controlled by the creator.

2. The token creator sent Solana (SOL) to 162 wallets, which then bought 50% of Rugproof's supply, a pattern resembling past rug pulls.

3. Bubblemaps shared a visual 'bubble map' showing connections between tokenholders, suggesting potential centralized control by a single entity.

4. The allegations emerged amid a bullish trend in the memecoin sector, which saw a 54% surge in valuation in July before correcting to $73 billion (still up 32% from June).

5. Bubblemaps previously highlighted a similar case with project ALT, which crashed from a $190M to $3M market cap due to an alleged rug pull.