Harmful Livestreams Prompt Ban Calls
Since its launch earlier this year, memecoin platform Pump.fun has become a well-known name in the crypto industry. The platform allows users, regardless of their technical knowledge, to quickly create and launch meme coins.
However, the live streaming feature has sparked serious controversy and calls for a ban due to inappropriate content and financial violations.
at first, Pump.fun of The purpose of live streaming is for developers to promote their products Meme Coin. Unfortunately, some users misuse it to spread extremely harmful activities. One notable incident involved developers Promote If the market cap of his cryptocurrency reaches $25 million, he will kill himself.
Additionally, some users have threatened to harm pets or even humans if their tokens do not reach certain market capitalization targets.
The situation came to a head when Beau, the Humpty Penguins’ safety program manager, reported a shocking live broadcast. Among them, one person threatened to hang himself if their token did not reach a certain market cap.
“Turn off live streaming. This is out of control,” Bo point out.
The platform has also become a hotbed for finance Scamthe outstanding feature is “carpet handle”. One recent case involved a student who created a meme coin called QUANT, quickly amassed $30,000, and then quit the project, leaving investors with a worthless digital token. This This resulted in the child being doxxed and maliciously stealing his and his family’s personal information. shared Online.
In response to these incidents, some community members have called for the platform to be shut down entirely. Instead, others have suggested that simply disabling the live streaming feature would be enough.
Legal intern Eddie was a strong critic of the platform’s governance. He believes it is crucial to turn off or moderate live broadcasts.
“There is an art of shock value in live streaming. Simply sharing nudity or other shocking or even horrifying content is not inherently interesting. People look for stories and novel concepts that engage them. The content currently shared on Pump Live is not only Uninteresting and conceptually lazy,” Eddie explain.
However, Pump.fun executive Aron claimed that content on the platform has been moderated from day one.
“We have a large team of moderators working around the clock and a team of internal engineers dedicated to helping us cope with the ever-expanding volume of currency, feeds, and comments. I acknowledge that our moderation is not perfect, so if you find something A review is not enforced for this token, please report it immediately in our support channels.” explain.
this ongoing debate reflects the plight of the platform. While it offers users tremendous creative freedom, it also poses serious risks without tight controls.
Now, communities and stakeholders await decisive action. The call for greater regulation is loud and clear, aimed at protecting the integrity of platforms and their users from further harm.
Despite these controversies, Pump.fun continues to perform well financially. Data from DefiLlama shows that the platform has generated more than $215 million in revenue since March 2024.
In addition, the platform also has contributed to Over 3.8 million Meme coins deployed.
Disclaimer
follow trust project BeInCrypto is committed to fair and transparent reporting. This news article is designed to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on the content of this article. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
