RugProof: The Scam-Prevention Platform Under Investigation for Fraud

The RugProof token launchpad is likely a scam, despite being marketed as a platform designed to protect against rug pulls. This conclusion has been drawn by analysts at Bubblemaps.

According to the RugProof website, the project claims to allow anyone to create coins with «zero risk for early investors, anti-dumping mechanisms, and built-in rewards for loyal holders.» The team has also mentioned the possibility of token buybacks and «lifetime rewards.»

Additionally, the platform has its own coin, RUGPROOF, which is listed on most major crypto aggregators, including CoinGecko and CoinMarketCap.

Bubblemaps reported that a cluster of interconnected wallets controls 50% of the RUGPROOF supply, with developers being the likely owners.

«The creator of the token ‘o93G6B’ sent SOL to 162 addresses. These wallets purchased 50% of the RUGPROOF supply at launch,» the analysts stated.

This token distribution structure resembles many rug pull schemes. Furthermore, RugProof has not provided any information regarding audits of their smart contracts or tokenomics.

It’s worth noting that in the first half of 2025, losses from hacks and scams in the crypto sector amounted to $3.1 billion, as reported by Hacken. This figure has already surpassed the total for all of 2024, which was $2.85 billion.