Independent on-chain sleuths are accusing a Turkey-based group of orchestrating a series of coordinated rug-pull scams across multiple blockchains, tying past and current memecoin projects to the same small cluster of identities and wallets. The thread circulating on X aggregates links between alleged team members, their social profiles, funding flows and contract deployments, and warns that several new tokens they are preparing to launch may follow the same pattern. According to the investigation shared by @AresSprout, the alleged network has repeatedly launched short‑lived meme or low‑utility tokens on Solana, Base and Avalanche (Avax), built initial hype, then abruptly removed liquidity or dumped large holdings to zero out token prices and abandon the projects. This behavior matches typical DeFi rug‑pull mechanics, where developers control a large share of tokens and liquidity, then drain decentralized exchange pools or sell into the market, leaving holders with illiquid or worthless assets. The analyst claims to have connected these patterns across chains through overlapping deployer and recipient wallets, recurring design and marketing practices, and Turkish-language and Turkey-linked personal profiles, suggesting an organized operation rather than isolated scams. The exposé matters because it underscores how relatively low-cost, permissionless token launches on fast chains like Solana and Base enable serial rug‑pull operations that can repeatedly rebrand and resurface with new tickers and narratives. It also highlights the growing role of independent investigators and blockchain analytics in surfacing cross-chain scam networks, at a time when memecoin activity and small-cap token speculation are heavily concentrated on these ecosystems and rug pulls represent a significant share of crypto scam revenue. Readers should note that these are currently public allegations based on open-source analysis; no formal law-enforcement action or adjudicated finding has yet been reported in connection with this specific group.

AI-generated background, compiled from web sources — not editorial content.

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