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Cryptocurrency News Articles

The Gen Z Quant Kid: A Rug Pull Gone Wrong

Nov 21, 2024 at 08:46 pm

A 13-year-old cryptocurrency enthusiast, known as the Gen Z Quant kid, is at the center of a bizarre series of events that have captivated the crypto community.

The Gen Z Quant Kid: A Rug Pull Gone Wrong

A teenage cryptocurrency enthusiast attempted a rug pull by launching a token named QUANT on Pump.fun, a popular memecoin platform. The 13-year-old, known as the Gen Z Quant kid in the crypto community, managed to sell his entire holding of 51 million QUANT tokens for 128 SOL, earning roughly $30,000 on November 20.

However, the community noticed the boy’s actions and decided to collectively pump the token’s value as an act of revenge for the rug pull. Over six hours, QUANT price skyrocketed by 71,386%, peaking at $0.07876 per token. The token’s price surged seven cents higher than Bitcoin and 10 cents more than Ether at the time.

Meanwhile, the token's trading volumes also went up, reaching $213.7 million, making it one of the most remarkable crypto trading phenomena.

But the financial setback was just the beginning. Frustrated investors doxed the teenager and his family, revealing personal details online, including their social media profiles and even the boy’s school.

The retaliation escalated further as Pump.fun users created new tokens named after the family members, such as QUANT DAD, QUANT SIS, and QUANT MOM, accompanied by profile pictures of the individuals. The situation took a darker turn when tokens like CABAL featured images of the family’s dog.

Finally, screenshots surfaced on X (formerly Twitter), shared by user @YonatanBadash1, alleging that the family’s dog, Bari, had been kidnapped. The screenshots show a conversation between an alleged kidnapper and the boy’s brother, Ben Berger, pleading for the dog’s safe return.

The family’s distress reportedly deepened, with the boy’s mother, Sara Berger, in tears and worried about potential legal charges her son might face due to the rug pull.

Original source:com

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