Krutika Adani
The fake memecoin called Bonk KIller boasted of a dubious $328 trillion market cap.
These scams are now classified as the Honeypot Scams which lure investors with extremely high returns.
With the success of Solana memecoins like Bonk, dogwifhat, and others, there has been a rise in crypto scams.
Till date, more than 12 Solana memecoins turned out to be fake.
Investors have lost nearly $26 million in these fake memecoins.