The post $Quant Rug Pull: Gen Z Kid’s Crypto Hustle Ends with Missed $4M Opportunity appeared first on Coinpedia Fintech News
So you thought crypto isn’t child’s play, think again. A young crypto enthusiast made headlines after creating and selling three coins—$Quant, $lucy, and $sorry—while live-streaming, earning over $53,000 in profit. However, the teenager’s decisions led to some major missed opportunities, with the coins’ values skyrocketing after they were sold.
The shocking event has disrupted the crypto market for a while, here is what happened and how crypto reacted to the incident.
Bro doing financial fraud in school days..
Btw he is going to rock for sure in future with this mindset
— Epic Funny Shots (@EpicFunnyShots) November 20, 2024
$Quant, $Lucy and $Sorry: Big Profit, Bigger Missed Opportunity
While live-streaming, the kid created the $Quant token and sold it for 128.3 SOL, equivalent to around $30,000 at the time. As per the Lookonchain report, having initially invested just 1.5 SOL for around 51 million $Quant coins, he made a quick profit of $29,600. However, the $Quant tokens soared in value after the sale, with their worth later reaching $4 million—showing how significant the missed profit was.
The teen didn’t stop at $Quant; he also created two other coins, $ Lucy and $ Sorry. With a small investment of 1.5 SOL in each coin, he later sold them for a combined profit of over $24,000. $ Sorry was sold for nearly $13,000, and $ Lucy for close to $12,000. These profitable sales added to his overall earnings but again, his decisions left substantial unrealized gains on the table.
The Rug Pull That Backfired
Adding a twist to the story, the teen attempted a rug pull on the $Quant coin, hoping to capitalize on a quick exit. However, the crypto community responded unexpectedly by pushing the token’s market capitalization to $80 million, causing its price to surge by over 900%. At its peak, the $Quant tokens would have been worth over $4 million—an outcome far beyond the original sale price.
The viral event has raised doubts within the crypto community, with some users amused by the teen’s audacity and others concerned about the legal implications. As the viral clip spread, the teen’s personal information was exposed, including his name and school, leading to further attention and scrutiny from both the crypto world and beyond.
Bro doing financial fraud in school days..
— Epic Funny Shots (@EpicFunnyShots) November 20, 2024
