Trader burns 10M PUMP airdrop tokens amid post-ICO confusion
Whale burns $75K PUMP post-airdrop
July 12 marked one of the biggest ICOs of the year, as PumpFun — a Solana-based meme coin launchpad — raised $500 million in just 12 minutes.
But excitement quickly turned into confusion when a whale accidentally burned $75,000 worth of tokens.
Whale mistake leads to massive burn
Shortly after PUMP tokens were distributed to user wallets as part of the post-ICO airdrop, on-chain data revealed a total of 10.5 million tokens had been permanently burned. The largest portion — 10 million PUMP valued at around $75,000 — came from a whale wallet that had received its allocation through the airdrop.
According to blockchain data, the wallet in question used a token-filtering tool developed by Axiom exchange, typically used to remove unsolicited or spam tokens. However, the user failed to realize that PUMP was among the valuable tokens in the wallet and accidentally triggered its destruction.
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The whale wallet was later linked to a known Solana meme coin trader and influencer who goes by @cryptocharming1. In a public statement, the trader admitted the mistake, noting they didn’t recognize the airdrop and assumed the token was junk. The wallet has since been dusted with small amounts of SOL, possibly for tracking purposes.
What’s Next?
While the incident sparked debate in the community, some viewed it as a cautionary tale in the fast-paced world of meme coins and airdrops.
With PUMP now circulating widely and further ecosystem plans underway, all eyes remain on its post-ICO momentum and market behavior.
We'll remind you that we wrote earlier that MEXC opens access to PUMP Launchpad with 40% discount.
In addition, Bybit launches PUMP Token Sale in partnership with pump.fun.
