The rug pull has now resulted in a colossal blowback from traders, placing a 13-year-old boy in the middle of a storm. On November 20, the boy launched a token named Gen Z Quant (ticker: Did you invest in QUANT during its launch on the pump? fun platform, and how thrilled were you to see the coin jump from $0. DNS to $0. 260 USD within a minute?
However, the fun did not last very long. Within an hour of the token being sold, the boy liquidated all his QUANT tokens, performing the ‘pulling of the rug’, leaving the classic traders who invested at these high prices embarrassed and with big losses to bear. According to the news, the boy earned $30,000 from the transaction, controlling the token’s value and destabilizing the market.
The crypto community retaliates by doxxing the boy’s family, creating tokens.
Hostilities escalated quickly when the boy made fun of the angry traders by showing them the middle finger on the internet. He found another token under the same pseudonym with which he cashed out, selling it at a $12,000 profit. This led a squad of more competent merchants to intervene and fix the genuine market capitalization of the token to $70m. Specifically, Gen Z Quant is currently valued at $0.05571, although the free float value change in the last few hours ranges from 50%.
Following this, the boy decided to continue the provocation. In response, the crypto community abandoned attacks on the core business and turned to his personal affairs. Traders and developers began to target his family, tracking their social media accounts and beginning new pumps. Fun tokens with names like QUANT DAD, QUANT MOM, and QUANT SIS were developed. Furthermore, a token with the full family and their pet dog was developed with the symbol CABAL.
People in the community reacted to the boy’s actions by complaining that he was not penalized for actions like that. “Kid put his bloodline on the line,” this user wrote; another trader said that the boy could have made millions had he acted otherwise. This user wrote on X: “He could’ve had 1,2m, but then they doxxed his name, address, and school.”
Some in the community even termed it ridiculous and labeled the young boy the future of finance, while others deemed him to represent youth culture that has been optimized to do that to people.
It has brought issues of the right and wrongdoing of such deeds into the dynamism and uncertainty of cryptocurrencies, especially given the boy’s age. Although the boy received a large amount of money, the consequences for his family and the rest of the crypto community are still being watched, proving how ruthless the world of digital assets is.
This news is republished from another source. You can check the original article here
