- A Gen Z scammer’s QUANT rugpull backfired as the community pumped its value.
- Crypto scams highlight risks, but collective action holds fraudsters accountable.
In an unexpected twist, a Gen Z trader stunned the crypto world by live-streaming the rugpull of his self-created token, QUANT.
He brazenly pocketed 128.3 Solana [SOL], equivalent to $30,000, as viewers watched in shock.
The token, launched on the Pump.fun platform, was seemingly designed to capitalize on fleeting internet hype.
However, what started as a blatant scam quickly took an ironic turn, as noted by the blockchain data analytics platform Lookonchain.
Source: Lookonchain/X
How did the community react?
Furious but determined, the community rallied around QUANT, propelling its market cap to an astonishing $35 million within hours.
Ironically, the trader’s original holdings would have been worth over $1.28 million—if only he hadn’t sabotaged his own project.
Moving forward, the crypto community turned the tables, pumping QUANT’s price by an unbelievable 71,386% in just six hours as an act of revenge.
This dramatic surge pushed the token’s value to an all-time high of $0.07876, with its market cap soaring to $4 million and trading volume reaching $213.7 million.
Source: DEXScreener
While other holders reaped massive profits, the trader’s shortsighted scam cost him millions, making this one of the most ironic fails in crypto history.
But the Gen Z scammer wasn’t done yet
However, despite pocketing $30,000 from his initial QUANT rugpull, the Gen Z scammer didn’t stop there.
Emboldened by his ill-gotten gains, he launched two more tokens, cleverly named LUCY (after his dog) and SORRY (a sarcastic nod to his earlier scam).
Source: Lookonchain
Continuing his fraudulent streak, he orchestrated another rugpull, netting 103 SOL, equivalent to $24,000 at the time.
However, the crypto community wasn’t ready to let his actions slide.
Determined to hold him accountable, they tracked down and doxxed his personal details—including his name, address, and school—on social media, turning the spotlight on the teenage fraudster.
More such incidents
As expected, the crypto world has seen its fair share of scams, many of which have left investors reeling.
One such incident saw South Korean authorities arrest 215 individuals for embezzling a staggering $232 million, highlighting the scale of fraud in the industry.
Notably, the Solana ecosystem often finds itself at the center of these controversies.
Hence, drawing a pattern, former NSA contractor and whistleblower Edward Snowden once criticized Solana for its centralized approach, remarking that it prioritizes efficiency.
He also stated that it has become a haven for memecoins and fraudulent schemes, further tarnishing its reputation in the crypto space.
Therefore, while scammers may exploit cryptocurrencies for quick gains, such incidents also show the community’s power to fight back and hold them accountable.
