Unlucky Trader Accidentally Burns $58K in Pump.fun Solana Token—But He’s Not Angry
The post Unlucky Trader Accidentally Burns $58K in Pump.fun Solana Token—But He’s Not Angry appeared on BitcoinEthereumNews.com. In brief A blockchain researcher accidentally burned (or effectively destroyed) $58,000 worth of PUMP tokens. He bought $40K worth of the Pump.fun token in Saturday’s ICO, with PUMP jumping in value when trading began Monday. The trader said he wasn’t too upset about the miscue, since there was nothing he could do to change it. A blockchain researcher accidentally burned approximately $58,000 worth of Pump.fun’s PUMP token on Solana—but he told Decrypt that he isn’t “sad or angry” about the costly mistake. The mistake came after he bought $40,000 worth of the token in Pump.fun’s sought-after token sale on Saturday, which sold out in just 12 minutes. Once the token launched, PUMP debuted at a price of $0.005827, which is 45% higher than its ICO valuation, bringing the unlucky trader’s losses to a total of $58,270. On Sunday, Chang Min Yu was clearing out his wallet of spam tokens via the Axiom Exchange burn feature. In doing this, he clicked on his PUMP tokens, thinking they were fake, and torched them. “Burning” crypto tokens permanently removes them from circulation by sending them to a blockchain address that cannot be accessed, which means they cannot be recovered. Min Yu did not realize his mistake, going about his day for several hours before reading a tweet about someone who burned their PUMP allocation—and soon realizing it was him. “I thought, ‘This guy is so stupid and miserable.’ But I found the wallet address in the picture very familiar, and then I immediately realized: Fuck, that’s me!” Min Yu told Decrypt. “I immediately laughed and shared it with my girlfriend and [my friends].” He told Decrypt that despite losing $58,270 worth of crypto, he isn’t “sad or angry,” because he likes to focus on things that he can control. “Since it had…
The post Unlucky Trader Accidentally Burns $58K in Pump.fun Solana Token—But He’s Not Angry appeared on BitcoinEthereumNews.com.
In brief A blockchain researcher accidentally burned (or effectively destroyed) $58,000 worth of PUMP tokens. He bought $40K worth of the Pump.fun token in Saturday’s ICO, with PUMP jumping in value when trading began Monday. The trader said he wasn’t too upset about the miscue, since there was nothing he could do to change it. A blockchain researcher accidentally burned approximately $58,000 worth of Pump.fun’s PUMP token on Solana—but he told Decrypt that he isn’t “sad or angry” about the costly mistake. The mistake came after he bought $40,000 worth of the token in Pump.fun’s sought-after token sale on Saturday, which sold out in just 12 minutes. Once the token launched, PUMP debuted at a price of $0.005827, which is 45% higher than its ICO valuation, bringing the unlucky trader’s losses to a total of $58,270. On Sunday, Chang Min Yu was clearing out his wallet of spam tokens via the Axiom Exchange burn feature. In doing this, he clicked on his PUMP tokens, thinking they were fake, and torched them. “Burning” crypto tokens permanently removes them from circulation by sending them to a blockchain address that cannot be accessed, which means they cannot be recovered. Min Yu did not realize his mistake, going about his day for several hours before reading a tweet about someone who burned their PUMP allocation—and soon realizing it was him. “I thought, ‘This guy is so stupid and miserable.’ But I found the wallet address in the picture very familiar, and then I immediately realized: Fuck, that’s me!” Min Yu told Decrypt. “I immediately laughed and shared it with my girlfriend and [my friends].” He told Decrypt that despite losing $58,270 worth of crypto, he isn’t “sad or angry,” because he likes to focus on things that he can control. “Since it had…
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