Simply put
- Researchers in blockchain accidentally destroyed a pump token valued at $58,000.
- A trader bought a token worth $40,000 during an ICO on Saturday.
- The trader expressed that he wasn’t very upset about the incident since it was unchangeable.
A blockchain researcher mistakenly eliminated pump tokens related to pump.solana, which were over $58,000 in value. He mentioned, however, that he wasn’t “sad or angry” about this costly blunder.
The error occurred after he purchased a token from pump.fun worth $40,000, which sold out in a mere 12 minutes. The token launched at a price of $0.005827, 45% higher than its early rating, resulting in the unfortunate trader’s total losses hitting $58,270.
On Sunday, a user named Changminyu realized he had mistakenly burned the pump token while clearing out his spam token wallet on the Axiom Exchange Burn feature. He mistakenly thought he was eliminating fake tokens. Once burned, crypto tokens cannot be recovered, as they’re sent to unreachable blockchain addresses.
Min Yu didn’t realize his blunder until he spent several hours hearing about someone who had burned a pump token—and then realized it was him.
Min Yu recounted his thoughts at the time: “I thought, ‘This guy is so stupid and miserable.’ But then I recognized the wallet address in the photo and thought: oh no, that’s me!” He laughed and shared the experience with his girlfriend and friends.
He noted he isn’t feeling “sadness or anger” despite losing $58,270; he prefers to concentrate on what he can control.
“It happened, and I couldn’t get it back, so worrying is pointless,” he said, laughing. “One of my life rules is to focus on what you can control.”
This situation surprised his partner and friends, but he expressed he felt more annoyance about the whole process than anything else.
Min Yu, a blockchain researcher based in Taiwan, affirmed he is the owner of the wallet that made this particular mistake. He clarified that he was focused on the chain aspects. Despite participating in the Pump.Fun Token Sale, he shared a more bearish outlook on the long-term price performance of the token. His intention was to short the tokens when they reached the $0.005-$0.007 range while holding onto the $40,000 worth that he bought earlier at $0.004 each.
Interestingly, other traders also faced similar incidents with the pump token, although it remains uncertain if these cases were intentional. For instance, another trader accidentally burned a pump token valued at $1,627, while another wallet dealt with a batch of spam tokens worth $837.
Min Yu humorously suggested that if he had issued his own pump-themed meme coin, he might have found a way to recover his losses.
“It would’ve been smarter to create a token named ‘fuck pump’ back then,” he quipped, adding, “Just kidding.”
