Raydium

On November 3, 2024, unidentified scammers compromised the X (Twitter) account of rapper Wiz Khalifa (35.7 million followers) and used it to promote two fraudulent Solana meme coins — $WIZ and $WIZZLE — launched on pump.fun. The $WIZ token reached a peak market cap of approximately $2.5 million within 15 minutes before collapsing over 95% in under one hour, with at least two insider wallets extracting a combined $160,000 in profit. Blockchain investigator ZachXBT linked the incident to a broader campaign of celebrity account takeovers that allegedly stole over $3.5 million in total, and subsequently accused a former professional Fortnite player known as 'Serpent' of involvement in the coordinated scheme.

pump.fun (operated by Baton Corporation Ltd., also listed on AVOID.NET as 'pumpdotfun') is a Solana-based meme token launchpad that launched in January 2024 and rapidly became one of the most-used token creation platforms in crypto, generating over $800 million in cumulative revenue and more than 11.9 million tokens. The platform is subject to an active RICO class action lawsuit in the SDNY alleging up to $5.5 billion in retail losses, a UK FCA regulatory ban, a $1.9 million insider flash loan exploit, documented use by North Korea's Lazarus Group for money laundering, and independent research classifying 98.6% of its tokens as rug pulls or fraud.

pump.fun is a Solana-based token launchpad, operated by UK-registered Baton Corporation Ltd, that lets anyone create a tradable token in seconds via an automated bonding curve and has generated hundreds of millions of dollars in fees since its January 2024 launch. The platform has been the subject of a UK Financial Conduct Authority warning, a suspended and later reinstated livestream feature that hosted graphic and abusive content, a $1.9-2 million insider exploit by a former contractor who was later criminally convicted, and consolidated U.S. federal class-action and RICO litigation alleging pump.fun and infrastructure partners ran a rigged 'casino' extracting billions of dollars from retail traders. None of the core securities or racketeering allegations against pump.fun have been adjudicated; independent research also indicates the overwhelming majority of tokens launched on the platform end as failed or abandoned projects.

Act I: The AI Prophecy (ACT) is a Solana-based AI-narrative memecoin launched via Pump.fun in October 2024 with no verified product utility. The token reached an all-time high of approximately $0.92 in November 2024 before declining over 98% to roughly $0.013 by mid-2026. It has been subject to a documented co-founder token dump, a suspicious 49% flash crash on Binance in April 2025 attributed to large coordinated sell orders, and broad sector criticism from on-chain investigator ZachXBT who labeled 99% of AI agent tokens as scams.