Solana has experienced rapid growth due to its high performance and low transaction costs, but the extremely low barrier to token issuance has also enabled widespread Rug Pulls. Unlike Ethereum-based Rug Pulls, which often rely on malicious smart-contract logic, Solana's unified SPL Token program shifts fraudulent execution toward on-chain behavioral manipulation. However, existing research has not systematically examined these Solana-specific Rug Pull patterns, and no public Solana Rug Pull dataset is available for empirical research. To bridge this gap, we present a large-scale measurement study of Rug Pulls on Solana. We manually verify 68 community-reported incidents and curate a benchmark of 117 confirmed Rug Pull tokens, from which we distill three representative on-chain behavioral patterns: Freeze Authority Abuse, Liquidity Withdrawal, and Pump-and-Dump. Guided by these patterns, we design a behavior-guided candidate identification and human-validation pipeline. We apply this pipeline to 100,063 tokens newly issued on Orca, Raydium, and Meteora during the first half of 2025, identifying 76,469 Rug Pull tokens. A random manual audit of 382 samples estimates a labeling false-positive rate of 0.26\%, supporting the reliability of the dataset. We release the resulting dataset and use it to characterize the Solana Rug Pull ecosystem. Our analysis shows that Rug Pulls on Solana exhibit extremely short lifecycles, strong price-driven dynamics, severe economic losses, and highly organized group behaviors. These findings provide new insights into the Solana Rug Pull landscape and support the development of effective on-chain defense mechanisms.

翻译：Solana凭借其高性能和低交易成本实现了快速增长，但极低的代币发行门槛也导致了Rug Pull骗局的泛滥。与基于以太坊的Rug Pull骗局通常依赖恶意智能合约逻辑不同，Solana统一的SPL代币程序将欺诈执行转向链上行为操纵。然而，现有研究尚未系统性地考察这些Solana特有的Rug Pull模式，且缺少可供实证研究的公开Solana Rug Pull数据集。为弥补这一空白，我们提出一项针对Solana上Rug Pull骗局的大规模测量研究。我们人工验证了68起社区举报事件，整理出包含117个已确认Rug Pull代币的基准数据集，并从中提炼出三种具有代表性的链上行为模式：冻结权限滥用、流动性撤回和拉高出货。在这些模式的引导下，我们设计了行为引导的候选识别与人工验证流水线。我们将该流程应用于2025年上半年在Orca、Raydium和Meteora上发行的100,063个新代币，识别出76,469个Rug Pull代币。对382个样本的随机人工审计估计标记假阳性率为0.26%，验证了数据集的可靠性。我们发布了该数据集，并利用其刻画Solana Rug Pull生态系统特征。分析表明，Solana上的Rug Pull骗局呈现极短的生命周期、强烈的价格驱动动力学、严重的经济损失以及高度组织化的群体行为。这些发现为Solana Rug Pull骗局格局提供了新的见解，并支持开发有效的链上防御机制。