Burn, Baby, Burn: A $75,000 Crypto Mishap 🤑

by

It appears that the world of cryptocurrency has once again provided us with a deliciously absurd tale of woe. A hapless Solana user, in a moment of unadulterated brilliance, managed to burn a staggering $75,000 worth of PUMP tokens. One can only assume that the poor dear was overcome with a sudden and irrepressible urge to set their digital assets ablaze 🔥.

The PUMP token, a Solana-based meme coin, has been making waves in the crypto community, and not entirely for the right reasons. It seems that the token’s launch was marred by controversy, with Bybit and Kraken exchanges at the center of the maelstrom.

Data on Solscan reveals that the user in question inadvertently burned a whopping 10 million PUMP tokens while attempting to clean up a batch of unwanted airdropped tokens. One can only imagine the look of horror on their face as they realized their mistake 😱.

NEW: A user accidentally burned 10M $PUMP airdrop worth over $75K while using a tool to clean up airdropped junk tokens.

— SolanaFloor (@SolanaFloor) July 14, 2025

The community’s reaction to this mishap has been nothing short of priceless. Some have expressed sympathy for the poor user, while others have taken to mocking their misfortune 🤣.

“I would cry and leave crypto,” one user remarked.

Meanwhile, others have pointed out the risks of using cleanup tools, which can permanently remove tokens from circulation without any hope of recovery. It’s a bit like playing a game of digital Russian roulette, isn’t it? 🎲

Rekt by cleanup tool ‍

— MemeCoinTracker (MCT) (@MemeCoin_Track) July 14, 2025

Now, one might wonder how this unfortunate incident came to pass. It’s worth noting that PUMP airdrops have yet to occur, which raises questions about how the user managed to acquire the tokens in the first place 🤔.

It’s possible that the user was one of the recipients of Bybit’s contentious PUMP sale. The Pump.fun platform allows for instant tradable coin launches, which might have contributed to the confusion 🚀.

“The tokens will initially be untradable and untransferrable while the distribution phase is carried out. Once the distribution phase is complete, the tokens will become tradable and transferable—an announcement will be made upon completion,” Pump.fun stated before the token sale.

The token sale, which sold out in a record 12 minutes, was flooded by whales, which might have led to the tool misidentifying PUMP tokens as “junk” due to their low initial value 🐳.

On the bright side, the incident might actually be bullish for the token, as token burns reduce the total supply and increase scarcity, potentially driving up value 📈.

According to SolanaFloor, the transaction occurred via the Token 2022 program on Solana and incurred a transaction fee of $0.002243 (0.0000135 SOL). A small price to pay for a $75,000 mistake, don’t you think? 😂

Bybit, meanwhile, remains under fire for token mismanagement, with users expressing widespread dissatisfaction and sparking backlash over failed transactions and opaque processes 🔥.

“You guys got some explaining to do to prove no crime was committed,” one user stated.

Several users shared video evidence showing that they placed their orders within the first seconds of the sale going live, yet were still refunded. It’s a bit of a mess, isn’t it? 🤯

In a parallel development, Kraken exchange co-founder Arjun Sethi has committed to a PUMP airdrop, which will be automatically distributed to users affected by Kraken’s system glitches 🎁.

“We reviewed internal order logs and client activity to identify those affected. To make this right, Kraken will airdrop PUMP to impacted users once the token is live,” wrote Sethi.

Read More

2025-07-14 14:03