A 13-year-old boy, who created a memecoin called Gen Z Quant, performed a rug pull during a live broadcast, making $30,000. In the live stream, the boy excitedly watched the price of his coin rise, sold his stake, and made a profit. Afterward, he waved an obscene gesture and the exchange rate dropped.
This incident brought attention to the young investor, who previously posted about making $2,000 on the X platform. A rug pull is when someone artificially inflates a coin’s price to attract investors and then suddenly withdraws their money, causing the exchange rate to drop. The crypto community decided to teach the boy a lesson by pumping money into his coin, driving the price up.
If he had withdrawn his money at that point, his $30,000 could have turned into $4 million.