What's Up With The Gen Z Quant Coin On Pump.Fun? Here's How A Teenage Meme Coin Creator Made $30,000 Executing A 'Rug Pull'

Meme coins are cryptocurrency’s chaotic younger siblings, part of a world in which internet humor and digital finance collide in ways that could make both Rockefeller and Doge roll in their graves. These coins often start as jokes, only to blow up in value thanks to viral hype and the "YOLO" spirit of online communities.

But now, Gen Z influencers armed with TikTok clout and a questionable understanding of financial ethics are getting into the mix, creating a digital wild west where seemingly anyone with WiFi can become the next crypto outlaw.

This brings us to the "Gen Z Quant Rug Pull," the latest meme coin fiasco that feels ripped straight from a Coffeezilla exposé.

Here's how a teenage mastermind livestreamed himself earning $30,000 off the back of his fans and fellow meme coin traders, turning an internet joke into a wallet-draining scheme so smoothly that it's a meme in its own right.

What Are Meme Coins, And What's The 'Gen Z Quant' Coin?

Meme coins, like the OG Dogecoin or the fleetingly viral Popcat, thrive on internet culture, using humor and memes as their primary selling point. While most are jokes, their value can skyrocket when a community buys into the hype.

This hype is what pump.fun user Fi2hrx was banking on when he created $QUANT on a platform designed for low-effort token creation. The teen minted 51 million $QUANT tokens on the Solana (SOL) blockchain, quickly drawing attention.

Within a short time, he pulled off a textbook rug pull, selling the stash for 128 Solana, roughly $30,000, leaving investors with little more than a lesson in trust issues (at least initially).

The whole ordeal would have been nothing but a blip on the turbulent landscape that is meme coin creation, but it just so happened that Fi2hrx was livestreaming himself minting the coins and pulling the rug out from under his investors in just seven minutes.

X user @BeezyScores posted a clip of Fi2hrx executing his rug pull and throwing up two middle fingers, writing, "BRO LMAOOOOO."

BRO LMFAOOOOO pic.twitter.com/rLYWr2cxqB

— BEEZY (@BeezyScores) November 20, 2024

How Did Gen Z Quant Investors React To The Rug Pull?

In the cryptocurrency world, a "rug pull" occurs when a project's creator abruptly withdraws all funds, leaving investors with worthless tokens. After the Gen Z Quant coin creator executed this maneuver, investors responded unexpectedly: Instead of abandoning the coin, they collectively pumped its value, driving the market capitalization to over $22 million.

This surge meant that the 51 million $QUANT tokens the creator had sold for approximately $30,000 were now worth about $4 million. However, since he had already liquidated his holdings during the initial rug pull, he couldn't capitalize on this subsequent increase. Still, the pump in no way affected his $30,000 profit.

But pump.fun users seething about getting got by Fi2hrx were not satiated with their revenge. By November 20th, several similarly named meme coins doxxing Fi2hrx's family began climbing the charts, all named "QUANT DAD," "QUANT MOM" and so on.

How Did Internet Users React To Fi2hrx's Pump And Dump Scheme?

Internet users outside the pump.fun community only learned about Fi2hrx's scheme when they saw videos of him pulling a fast one on his investors and then jeering at his camera about it.

X user @AltcoinGordon tweeted a joke about the President-elect appointing the Quant Kid to the "Bitcoin Strategic reserve."

Meanwhile, X user @0xRiver8 shared an image of the Quant Kid putting up two middle fingers, calling him a "Future hedge fund manager."

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For the full history of the Gen Z Quant Rug Pull, be sure to check out Know Your Meme's encyclopedia entry for more information.