🌝 Why do more and more people say Solana is a scam❓

$SOL There really are a lot of controversies and risks, making many people feel like it’s a scam. The main reasons are:

① Too many scams in the ecosystem:
There are especially many meme coins and rug pulls on Solana, because fees are low, the speed is fast, new projects are easy to launch, and they’re also easy to be abused. This leads to frequent phishing attacks, and users have lost more than hundreds of millions of dollars.

② Outages in its early network history:
In the early days, there were many full-network downtimes, the longest lasting 17 hours, mainly caused by client bugs or transaction spam. Critics say it’s “unreliable” and not suitable for serious applications.

But after 2025, stability improved dramatically. There have been no major outages for over a year, and it can even withstand DDoS attacks.

③ Concerns about centralization and VC/insider issues:
Validator hardware requirements are high, which results in the number of validators being relatively concentrated. In the early period, there were lots of VCs who got SOL at low prices.

From 2025 to 2026, there are collective lawsuits targeting Pump.fun and entities related to Solana, accusing MEV (Maximum Extractable Value) of being unfair, insider trading advantages, etc., giving the feeling that the “casino is rigged” (manipulated). Meme coin culture also amplifies the “casino” impression. There are controversies around inflation rate, governance, and more.

④ Trade-offs between performance and reliability:
When network load is high, the transaction failure rate is sometimes high (reports of 75–90% failures during congestion periods), and the priority fee mechanism isn’t perfect.

If you look at the long term: it has technical advantages and real-world adoption in stablecoins, payments, and DeFi, and the team is working on fixing issues. But it still needs to face competition, regulation, and centralization risks. The high number of scams on Solana is mainly because of its large user base + low fees.

In simple terms: Solana is like a race car that runs very fast but had accidents early on. It’s been fixed better now, but there are still potholes on the road and scammy racers. It’s not a fake car, but you need to drive carefully.