A Gen Z kid caused a stir by executing a live rug pull, pulling in a profit of 128.3 SOL—valued at $30,000—from his personally created cryptocurrency, QUANT.
The shocking act, broadcasted live, left viewers stunned but ignited a chain reaction. After the kid dumped his holdings, crypto enthusiasts started pumping the token, and within hours, the token’s market capitalization surged to $35 million.
Ironically, had the young trader refrained from liquidating his holdings, the token would have been worth over $1.28 million.
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Another of the trader’s rug-pulled tokens, KID, was picked up by a professional team aiming to rejuvenate its purpose.
Furthermore, the blockchain analysis platform Lookonchain revealed that this wasn’t an isolated incident. This kid had previously created and rugged two other tokens—SORRY and LUCY—earning him $13,000 and $12,000, respectively.
This began with minimal investment, as he spent 1.5 SOL (approximately $350) on each token to mint over 51 million coins. Despite the relatively modest returns compared to $QUANT, the combined profits from these schemes totaled over $53,000.
The incident also led to some serious scrutiny from the crypto community. They doxxed the kid by exposing their identity, address, and even his school.
One viewer remarked that the kid would deeply regret his actions later in life, while another joked:
This kid’s going to jail at 13.
In other news, Binance has clarified that BFUSD is not a stablecoin. So, what is BFUSD for? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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