Following the incident where a 12-year-old trader livestreamed the rug-pull of the QUANT token, the memecoin launch platform pump.fun is facing intense criticism from the community. The platform is increasingly associated with illegal and unethical behavior during live broadcasts.
Initially focused on launching memecoins, pump.fun has devolved into a space showcasing troubling aspects of society. Here, individuals often resort to extreme actions to attract attention and drive token sales, disregarding ethical boundaries.
Unlike major platforms like TikTok or YouTube, which have strict content moderation systems, pump.fun operates with virtually no oversight or regulations. This lack of control has turned it into a blockchain version of the “dark web.”
In just a few hours of watching livestreams on pump.fun, users might encounter disturbing content, including:
- A 12-year-old threatening to kill their family unless their token reached a $60,000 market cap.
- A couple abusing their 3-year-old child, demanding a token hit a $15,000 market cap to stop.
- Individuals openly selling drugs and other illegal goods.
- A user launching a memecoin with threats of a school shooting.
- Footage of ISIS executions being replayed because a token failed to reach its target.
Related: Pump.fun Achieves Record Revenue from Memecoin and AI Frenzy
The most alarming incident involved a user attempting suicide on a livestream after their token failed. While the individual was fortunately saved, pump.fun’s only response was to remove the broadcast without offering support or intervention.
The project team’s indifference has raised significant questions about the platform’s ethical responsibility. The cryptocurrency community is calling on pump.fun’s developers to take urgent measures to address these dangerous trends.
Despite generating tens of millions of dollars in monthly revenue, pump.fun’s future is in jeopardy. Without decisive and timely action, the platform risks shutting down in the near future.
