In a bizarre twist to the fallout of a token rug pull, a QUANT investor allegedly kidnapped the dog of the token’s 13-year-old developer, retaliating against the boy’s fraudulent actions.
The kidnapper further launched a meme coin, Bari QUANT, named after the dog, fueling chaos in the crypto community.
Reports of the dog’s abduction surfaced on social media platform X, where users claimed an unidentified individual admitted to stealing the pet as leverage. The individual reportedly demanded a refund and an apology from the boy, citing the Bari QUANT token as part of the retaliation. Screenshots shared online suggested the boy’s mother confirmed the theft in an Instagram post.
$quant kid rugs thousands for 30k
anon dms me said he stole quant kids dog $bari demanding refund
what part of the cycle is this? pic.twitter.com/zA8zVKr8Wx
— zak (@sticktoshiZak) November 21, 2024
According to Dex Screener, the Bari QUANT token experienced a market cap surge to $800,000 within three hours of its launch, climbing over 300% before dropping to around $309,000. In contrast, the original QUANT token plummeted by over 61%, with its market cap falling from $81 million to $19 million.
The events unfolded on November 20 when a 13-year-old developer launched the Gen Z QUANT token on Pump.fun during a live stream, quickly gaining 260% in value. However, he sold all his holdings, crashing the token and making $30,000. Despite the backlash, he launched two more tokens, LUCY and SORRY, and repeated the rug-pull strategy, earning another $24,000, according to Lookonchain. This led to some investors doxxing his family online.
In a further escalation, several meme tokens were launched on Pump.fun, mocking the boy’s family with themes based on their names and profile pictures.
Notably, In Q2 2024, losses in the cryptocurrency sector from hacks and rug pulls increased by 112% compared to the same period in 2023, according to the ImmuneFi report. The industry lost about $573 million due to malicious activities, with $564.2 million lost in 53 attacks and $8.45 million through fraud in 19 incidents.
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