The crypto communities on X (fka Twitter) and Discord have been abuzz with talk of a Gen Z kid creating a token on Pumpfun and then rugging it on livestream.
The boy dumped 51 million $QUANT and made a profit of $30,000. The holders of the token were left furious and decided to community take over (CTO) the coin. This turned out to be a massive success with the $QUANT token climbing to massive heights in a matter of hours.
Apparently, this is not the Gen Z kid’s first rodeo as he allegedly pulled a similar stunt in September, 2024, rugging a token he created on Pumpfun called $KID. One particular trader made a profit of 2,141%. They made an investment of 2 SOL, equivalent to $462, which later grew to $988,000 in the span of three hours.
The child and his family were doxxed by an angry mob and memecoins have been created in mockery members of his family. The comment section of his mother’s Instagram page has also been bombarded with comments expressing dissatisfaction. At the time of report, his original holdings are worth over $2.4 million.
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