We are witnessing the best and worst of this TikTok meta, and with QUANT (Gen Z Quant), we may have reached the lowest point as a child scam in live stream for $30k profit.
But in an unusual twist, the community rebelled with a post-stream CTO and sent the coin to over $80 million market cap.
Ironically, the trader’s original holdings would have been worth over $2.8 million if he had not sold them. Blockchain analytics platform Lookonchain discovered that the trader had also created and rugged two other tokens, $SORRY and $LUCY.
He profited $13,000 from $SORRY and $12,000 from $LUCY.
He made over $53,000 from these rug pulls, but his portfolio could have been worth millions if he had held on.
This kid really made $50K in 12 hours on PumpFun, launching and dumping coins:
$30K on $QUANT
$13K on $SORRY
$12K on $LUCYBut here’s the kicker. $QUANT got CTO’d, and his bag would be worth $2.8M today.
Wild.
https://t.co/HAvhKhg2fC pic.twitter.com/Ne3T6lmnI0
— Crypto Diplomat (@diplomat_crypto) November 20, 2024
Could Quant Kid Get Into Trouble? Probably Not
The livestream clips of the rug pull went viral. Obviously, many people have vented their anger over these rugs with harsh words and threats. Kids in crypto is not something new, with this TikTok trend we just got new ones.
The incredible ease of access to cryptocurrencies is a double-edged sword: unfortunately, many children, even those who are 13 or 14 years old, dabble as improvised developers or even just traders.
Often, they do not realize the danger of exposing themselves so much. At 13, you are mostly unconscious and do not think about the possible consequences.
The result is that he and his entire family, including their home address, have been doxxed. Hopefully, the child will receive the proper education and understand the enormity of his actions, although that is unlikely. I mean, he just launched more coins right after Quant one.
There are many more examples like him, and they often suffer no consequences. Instead of demanding more moral weight from these Gen Z kids, wouldn’t it be better to avoid investing in coins like this in the first place?
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.