Pump.fun is the largest launchpad for memecoins. Troubling scams took place in recent livestreams. The platform is doing all it can to get the livestreams offline.

Pump.fun is under fire. After a series of disturbing livestreams, the pressure is getting high for the largest memecoin incubator on Solana. Legal experts, meanwhile, are warning of criminal charges. "This is a legitimate reason for criminal prosecutions and civil lawsuits," according to Yuriy Brisov, partner at law firm Digital and Analogue Partners.

It started with $QUANT, launched during a live stream

Within minutes: 📈

-Skyrocketed to $1.2M market cap
-Massive buy pressure
-Kid dumps 51M tokens
-Walks away with $30k pic.twitter.com/aRmKcbN457
— Rug Pull Survivor (@rugpulledsurv) November 20, 2024

Several months ago, there were already several complaints about the platform: racist and anti-Semitic projects such as "The Jews did 9/11," Hitler and Goebbels tokens, and questionable livestreams. But now the dark side is quickly taking over, especially in the livestreams. For example, one man locked himself in a cage and ate his own feces live. Another user promised to torture his girlfriend if the value of his token rose. Other users threatened shootings and declared they would kill their families with a shotgun or beat their children if their tokens did not increase in value.

Pump.fun and its anonymous founder responded to X: They support freedom of speech, but feel a responsibility to "disgusting/dangerous content" from users and "evil people" none "provide a platform where they can do what they want." Therefore, the live stream feature has been disabled for now.

With a revenue of $252 million in eleven months, Pump.fun is the fastest-growing crypto app ever. Almost all memecoins on Solana are created here, often tens of thousands a day. Most remain worthless. Only about 1 percent make it to decentralized exchanges like Raydium.