CandleFocus Pumpkin 'Rugs' Its Own Token After Threatening Solana Meme Coin Launchpad Pump.fun With a Lawsuit
2025-01-13
Author: Content Editor
In December 2024, Yonatan Badash founded Pump Pumpkin and threatened legal action against meme coin launchpad Pump.fun over allegations of hidden fees. However, just 10 days later, Pump Pumpkin launched a token on Pump.fun and intentionally manipulated the token's chart, claiming to have made $800,000. The PPA token launch was chaotic, with the price initially plummeting due to large sell-offs but later pumping more than 700%. The livestream of the launch was filled with hate and controversy, with Badash blocking offensive words and provoking investors. Ultimately, PPA's value dropped by 93% in the following hours. The project's announcement of a token swap from PPA to PP tokens also faced criticism, as some investors claimed they did not receive the new tokens after burning their PPA tokens. Angry investors believe Pump Pumpkin's reputation has been irreparably damaged.
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