Warning: Memecoins are extremely high risk. Most go to zero. You could lose all the money you put in, quickly and without warning. Only use money you can afford to lose completely.
Before It Rugs exists because memecoins are dangerous. Please read this page in full before you use anything on this site to make a decision with real money.
Most memecoins go to zero
Thousands of new memecoins launch every day. Almost all of them lose most or all of their value, many within hours. Prices can rise and fall by huge amounts in minutes. A coin you can sell now may have no buyers, or no liquidity, a minute from now.
Memecoins usually have no business, no revenue and nothing behind them except attention. When the attention moves on, the price tends to follow.
You could lose everything
- A creator can pull the liquidity, leaving tokens you can't sell.
- Insiders and early wallets can sell large amounts at once and crash the price.
- A coin can be designed so that you can buy but not sell.
- Transactions on Solana can't be reversed. If you send funds to the wrong place or sign a malicious transaction, they're gone.
- Price and liquidity can be too thin to get out at the price you see on screen.
Treat any money you put into memecoins as money you may never see again.
You're not protected
Memecoins are largely unregulated in the UK. If something goes wrong:
- You're unlikely to be able to complain to the Financial Ombudsman Service about losing money on a memecoin.
- The Financial Services Compensation Scheme (FSCS) is unlikely to pay you back if a coin collapses, a developer disappears or a platform fails.
- Nobody is checking these coins before they launch. Anyone can create one in seconds.
The UK is bringing in a new regime for cryptoasset firms, due to start in October 2027. Don't assume it will protect you from losses on memecoins. Even when it starts, you should not expect compensation if a coin goes to zero.
Before It Rugs is not authorised or regulated by the Financial Conduct Authority. We don't give financial advice.
Scams and impersonation
Memecoins attract scammers. Common tricks include:
- fake "support" accounts that message you first and ask for your seed phrase
- fake websites that look like real tools and ask you to connect your wallet
- "wallet drainer" links that empty your wallet when you sign a transaction
- copycat tokens with the same name as a popular coin
- paid influencers and fake communities hyping a coin before insiders sell
- "recovery" services that promise to get your lost crypto back for a fee
Never share your seed phrase or private key with anyone. No real service will ever ask for it.
We will never message you first, never ask for your seed phrase and never ask you to connect a wallet. There is no Before It Rugs token. See Contact for how to spot people pretending to be us.
Our grades are not advice
Our grades are automated summaries of public data, using the rules on our methodology page. They are not financial advice, and they're not a recommendation to buy, sell or hold anything.
A good grade does not mean safe. An A only means we didn't find the warning signs we check for. Lots of risks can't be seen in on-chain data: the creator's plans, wallets that hide their links, slow sell-offs, fake hype. A coin with a clean grade can still collapse, and many do. Read can a safe-looking coin still rug? and what our grades mean.
Our data can also be late or wrong. Market data refreshes every 10 seconds and token reports every 10 minutes, and our sources sometimes make mistakes.
Before you buy anything
- Decide how much you can afford to lose completely, and don't go over it.
- Never borrow money to buy memecoins.
- Check the contract address, not just the ticker.
- Be wary of anyone telling you to hurry.
- Have a plan for when you'll sell, before you buy.
If trading is affecting your money, sleep or relationships, it's OK to stop. Free, confidential help is available from organisations such as GamCare (0808 8020 133) and MoneyHelper.
If you've been scammed
- England, Wales and Northern Ireland: report it to Report Fraud, which replaced Action Fraud, or call 0300 123 2040.
- Scotland: report it to Police Scotland on 101.
- You can also tell the FCA about scams and unauthorised firms.
Be very careful of anyone who contacts you offering to recover lost crypto. These offers are almost always a second scam.
Questions
If anything on this page isn't clear, email hello@beforeitrugs.com. We can't give advice about any particular coin, but we're happy to explain how the site works.