- Crypto traders are boycotting Pump Fun over its failure to deliver a promised airdrop, numerous rug pulls, and a chaotic token launch with influencer Kimchi.
- The boycott, using the #BOYCOTTPUMPFUN hashtag, aims to reduce Pump Fun‘s revenue until it releases an airdrop teased 474 days ago.
- Resurfaced lawsuit evidence shows Pump Fun‘s co-founder admitted creating a gambling-like market for low-value tokens.
A wave of crypto traders launched a boycott against memecoin platform Pump Fun this week, citing its failure to deliver a promised airdrop, numerous rug pulls, and a disastrous token launch with influencer Kimchi. Users across X shared the #BOYCOTTPUMPFUN hashtag to hold Pump Fun accountable for what they call the “worst month ever in the trenches.” The boycott graphic first appeared on Friday from user RonPull.
Crypto trader and influencer Jack Duval revealed Sunday he was starting a movement to tank Pump Fun‘s revenue until the company releases an airdrop. It has been 474 days since Pump Fun teased that an airdrop was “coming soon.” Duval claimed the boycott would work with just a few thousand traders and that he wants to hold Pump Fun accountable for using misleading marketing tactics. Other users joined while complaining that Pump Fun are “money extractors” that only benefits itself and its partners.
During the boycott, Crypto Banter shared evidence from Burwick Law’s second amended lawsuit filed last January. The evidence showed internal Telegram chats where co-founder Alon Cohen admitted creating a market for low-value tokens exposing users to “really really low odds that come with gambling.” Traders used the evidence to further their boycott aims.
The collaboration between Pump Fun and Kimchi also fueled anger. Bubblemaps noted Kimchi likely made only $6 million trading Trump’s token, far less than the $40 million claimed by Pump Fun. Kimchi then launched a token in a post retweeted by Cohen, but the launch resembled a rug pull. Cohen later unshared the post, and Kimchi deleted the launch reveal.
The boycott occurs during a Pump Fun competition offering $2.5 million to the most profitable trading group. Critics say it helps KOLs make more money and still draws criticism over the Kimchi incident.
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