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Key Notes
- A user mistakenly burns 10 million PUMP tokens worth $75,000.
- Pump.fun ICO sells out in 12 minutes, raising $500 million.
- The platform aims to rival Facebook and TikTok on the Solana blockchain.
A costly mistake has shocked the Pump.fun community after a user accidentally burned $75,000 worth of PUMP tokens during a wallet cleanup exercise.
According to data shared by Lookonchain, the wallet address “4X43Dm” burned 10 million PUMP tokens at exactly 13:16 UTC on Sunday, just a day after the token’s initial coin offering (ICO).
Someone accidentally burned 10M $PUMP($75K) while using a tool to get rid of airdropped junk tokens.
Don't go burning tokens in your wallet unless you know exactly what you're doing.https://t.co/RVrK8BHobr pic.twitter.com/gALJ0q6pvU
— Lookonchain (@lookonchain) July 14, 2025
The unidentified user reportedly used software to remove low-value tokens airdropped into their wallet but mistakenly included PUMP tokens in the purge. The incident highlights the importance of double-checking high-value assets during wallet maintenance.
PUMP Token ICO Sells Out in 12 Minutes
The accidental token burn comes after Pump.fun’s record-breaking ICO on Gate.io, where 125 billion PUMP tokens, representing 12.5% of the total supply, sold out in just 12 minutes despite an initially planned 72-hour sale window.
The public offering raised $500 million, underscoring the high demand for the Solana-based SOL $167.4 24h volatility: 3.3% Market cap: $89.73 B Vol. 24h: $9.85 B meme coin platform.
Data from Dune Analytics shows that 23,959 wallets completed KYC for the ICO, but only 10,147 wallets successfully acquired tokens, representing a participation rate of 42.3%.
On average, users spent $44,209, with 5,758 wallets investing under $1,000, 1,737 wallets buying over $1,000, and 1,030 wallets securing over $10,000 worth of PUMP tokens.
202 wallets bought over $1 million each, reflecting strong confidence from high-net-worth participants.
Pump.fun’s Ambitions
Launched in early 2024, Pump.fun allows users to create meme coins easily on Solana. It has recorded over $700 million in revenue amid growing user traction.
The team has publicly shared its ambition to rival platforms like Facebook, TikTok, and Twitch using a Solana blockchain-based Web3 social platform.
the moment you’ve all been waiting for$PUMP is launching through an Initial Coin Offering on Saturday, July 12th.
airdrop coming soon.
our plan is to Kill Facebook, TikTok, and Twitch. On Solana.
learn more about $PUMP and how to get involved 👇 pic.twitter.com/KApiGnvtBg
— pump.fun (@pumpdotfun) July 9, 2025
To support this mission, Pump.fun is considering incentives such as token buybacks, fee rebates, and exclusive rewards for PUMP holders.
Ahead of its ICO, Pump.fun also acquired wallet-tracking platform Kolscan to strengthen its ecosystem and attract users.
Meanwhile, competition in the Solana meme coin space is intensifying. Pump.fun’s main rival, LetsBONK, which recently surpassed Pump.fun in weekly trading volume, is also working on its own meme coin launchpad supporting the BONK BONK $0.000028 24h volatility: 11.1% Market cap: $2.15 B Vol. 24h: $1.35 B token ecosystem.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
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