Pump.fun memecoin platform condemned for shocking livestream
Prominent voices in the crypto communities have criticized Pump.fun's lack of content oversight
Pump.fun, a decentralized platform designed for creating and promoting Solana-based memecoins, is under heavy scrutiny following allegations of harmful and violent content broadcasted through its livestream feature. The backlash erupted after clips from the platform's livestreams circulated on social media, sparking outrage among users and watchdog groups.
The platform, known for its user-generated content, faced condemnation for failing to moderate livestreams effectively. Critics claim that the content not only violated community guidelines but also raised serious ethical and legal questions about the platform’s responsibility to ensure user safety.
Calls for greater oversight
Prominent voices in the crypto and tech communities, including social media influencers and blockchain security analysts, have criticized Pump.fun's lack of content oversight.
Eddie Boe, a Pudgy Penguins safety project manager, is shocked by a video of a user who threatened to commit suicide if his memcoin didn't reach a certain market capitalization. Eddie Bo commented at X: “Disable the live streaming feature. This has gotten out of hand. Platforms with decentralized autonomy should put safeguards in place against abuse so as not to undermine trust in the ecosystem.”
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It also became known that during broadcasts, one user fired a gun when the value of his token increased.
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In addition, a child threatened to use violence against family members if the token did not reach the target price.
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One of the most outrageous was a teenager who threatened to attack a school if his memcoin did not increase in value.
These broadcasts sparked a wave of negativity and demands to limit the possibilities of livestreams.
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While platforms like Pump.fun thrive on user creativity, the absence of robust moderation tools can lead to reputational damage, as seen in this case.
Pump.fun has yet to issue a formal statement addressing the accusations but has reportedly suspended several user accounts linked to the controversial streams.
However, there was a comment from @a1lon9, who identified himself as a Pump.fun moderator, “I recognize that our moderation is not perfect, so if you know of a coin where moderation does not apply, please report it immediately in our support channels in the future we will try to be more transparent about the rules.”
Implications for decentralized platforms
This controversy comes at a time when the decentralized finance (DeFi) and blockchain ecosystems are pushing for mainstream adoption. The situation underscores the challenges these platforms face in moderating content while preserving the ethos of decentralization. Experts suggest that Pump.fun’s handling of this crisis could set a precedent for how similar platforms address content moderation issues in the future.
We also reported that most new tokens now launch on Solana, led by Pump.fun.
