Decentralized token creation platform, Pump.fun, faces controversy following a report that a user threatened self-harm during a livestream if their token did not reach specific price targets. Beau, safety product manager at Pudgy Penguins, disclosed the incident, stating that the user threatened to “hang themselves” if the coin does not reach a set market cap.
Beau later reported receiving a screen recording of the livestream where the individual appeared to carry out the action. Another Twitter user reported a separate case where a Pump.fun token creator threatened to shoot their pet dog if the meme coin did not reach $11 million in market cap. The issue of self-harm on Pump.fun has garnered more than 500,000 views on Beau’s initial post.
Meanwhile, concerns about the lack of comprehensive safety protocols for streaming features on the platform have been raised. The platform, which gained traction as a decentralized launchpad for meme coins on the Solana blockchain, does not have terms of service listed on its website. Decrypt has redacted personal details of the user in question to protect their identity.
Mental health experts have previously warned about addictive trading behaviors and the emotional distress linked to cryptocurrency market participation, urging for better mental health policies for crypto traders.
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<p>The post New Platform Faces Scrutiny Over User Threatening Self-Harm During Livestream first appeared on CoinBuzzFeed.</p>
