Gen Z Scammer Bags $30K, But QUANT Token Soars 71,000%

A GenZ kid attempted to execute a rug pull scam by creating a memecoin, QUANT, and selling it off quickly for a profit. However, instead of falling victim to the scam, the crypto community rallied together, pumping the token’s value to a new height.

The Attempted QUANT Rug Pull That Backfired

All this began when the GenZ creator launched QUANT token on pump.fun, a platform known for memecoin launches. Livestreaming the entire process, the creator sold all 51 million of his QUANT tokens for 128 SOL, equivalent to $30,000.

Expecting to walk away with his profit, the creator underestimated the community’s reaction. In an act of collective revenge, traders pumped QUANT’s value, skyrocketing it by 71,386% within six hours. The token reached an all-time high (ATH) of $0.07876, with a trading volume of $213.7 million.

While the creator pocketed $29,600, the pump turned his 51 million tokens into a missed opportunity worth $4 million, leaving him to rue his decision to exit early.

The Kid Didn’t Stop There….

The QUANT token became a social media sensation. Early adopters who held their positions reaped massive profits, while the token maintained a market capitalization of $28.4 million despite losing over 50% of its value. Currently trading at $0.03075, QUANT remains up by 28,000%.

However, the GenZ creator wasn’t done. Emboldened by his initial success, he launched two more memecoins, SORRY and LUCY. He named the token SORRY sarcastically for his crypto scam and the LUCY after his dog’s name. These tokens also became rug pull schemes, earning him another 103 SOL, or $24,000.

This time, the community was less forgiving, tracking down the creator’s online presence and even contacting his family to expose his fraudulent actions.

The QUANT incident is a textbook example of the greater fool theory, where investors buy overpriced assets in hopes of selling them at an even higher price to someone else. This risky behavior often leads to significant losses when the hype dies down.

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