@alekseyf.eth
Today I came across a very strange phenomenon on the PumpFun platform. I joined this stream:
https://pump.fun/coin/65G2YrriLh9SZ8B2TZULHBpfoD81994EfNSzie4xpump
And I saw that many users were buying some kind of “streamer token” — but there was no actual stream. That caught my attention, so I started digging for info about this contract on X. Then I found this post from @fascinated with the token contract:
https://x.com/fascinated/status/1968022648702767161
My first thought was that his account got hacked. Why would someone like him rug people on PumpFun? So I went looking for on-chain traces of whoever created this token. The token was deployed from this wallet:
https://solscan.io/account/FgiVydgy44qJc6AQyDRLCpPybmowwpR6JiWQy4WgqmbW
I checked how SOL ended up in that wallet and found this transaction:
https://solscan.io/tx/36HTYEvznyCUGZXL56xVp1JeJ4FiA7babPqioKTstW27nqg5MkP8mvDt4YZeHuVhKueE2bVohMnoffPsoVb4Ti8r
From wallet: EVxSk1vxjk2pcsNQa8V4YNXZeGY6P9gzLERddGiZG3ss 0.2 SOL were sent to the Deployer wallet:
FgiVydgy44qJc6AQyDRLCpPybmowwpR6JiWQy4WgqmbW
I searched that wallet on X and found a 2022 post from @fascinated, where he answered someone’s question and shared a link to this site with the wallet:
https://futuretape.xyz/EVxSk1vxjk2pcsNQa8V4YNXZeGY6P9gzLERddGiZG3ss
The post itself: https://x.com/fascinated/status/1506847070023520256
So it can be assumed that the wallet which funded the deployment of this shitcoin on PumpFun actually belongs to @fascinated.
His Farcaster page is also linked to the same Twitter handle: @fascinated.
Here’s what happened:
He created the token, let it sit for a few minutes, then bought some himself and posted the contract on his X account. As soon as he posted it, users rushed to buy the token, expecting him to start a stream and show something. After some time, the stream finally went live. This led to even more buying pressure — people thought some broadcast was about to start — but instead it was just a black screen, and after a few seconds the stream was turned off. Then he turned it on and off multiple times. Each time, the market cap reacted by going up, more people bought in, but there was never any actual content. Normally, at this point you’d expect an excuse like “technical issues” — but he just kept flipping the stream on and off. People continued to believe the broadcast would start any second, and the token would moon. But after every round, a dump followed. As a result, the token price dropped from 280,000 to 20,000.
Each time the stream went live, tons of people rushed to buy his token because they saw a respected figure in the crypto space. In this way, nearly $1M in trading volume was generated, and a large amount of money was dumped across different wallets. PumpFun also pays the streamer (the token creator) a commission on every buy and sell. Just from commissions alone, $8,860 was earned.
He’s followed by some of the top people in the Base community — @jesse.base.eth, @jacob, even Nikita Bier, "X Head of Product".
A lot of people have already written that they lost money due to this on/off streaming manipulation.
Of course, one might argue that he gave his old wallet (used to deploy this cabal-token) and his X page to a friend, or a hacker gained access to his X account and also to his old wallet. Let everyone think as they see fit. But anyway its sad to see that even people of this level are involved in such things in the crypto space.
All screenshots, links, and videos will be duplicated below, just in case they start getting wiped.