Pump.fun Faces Backlash Over Livestream Misuse

The meme coin platform Pump.fun is under fire as its livestream feature faces widespread misuse. Originally intended to help developers promote their coins, the feature has instead been exploited for harmful acts, including threats of violence, financial scams, and inappropriate content. These issues have sparked outrage within the community, leading to calls for stricter moderation or even the removal of the livestream option altogether.

Since its launch earlier this year, Pump.fun has gained traction as a user-friendly platform for creating and launching meme coins. Despite its controversies, the platform has generated $215 million in revenue and facilitated the creation of over 3.8 million meme coins. However, its livestream feature has become a focal point of criticism due to alarming incidents involving extreme and dangerous behavior.

One disturbing case involved a developer livestreaming threats of self-harm if his cryptocurrency did not reach a specific market capitalization. Similarly, other users have issued threats of violence toward pets or people to pressure investors into supporting their projects. These actions have raised serious concerns about user safety and the platform’s credibility.

A particularly shocking incident was reported by Beau, a safety project manager at Pudgy Penguins, who highlighted a livestream where an individual threatened to harm themselves if their coin failed to achieve a financial goal. “Shut down the livestream feature. This is out of control,” Beau stated, reflecting the frustration shared by many in the community.

In addition to harmful acts, the platform has become a breeding ground for financial scams. A recent example involved a young user who created a meme coin called QUANT, quickly raised $30,000, and then abandoned the project, leaving investors with worthless tokens. This led to the public exposure of the individual’s personal information, escalating the situation further.

Community members are divided on how to address the problem. While some advocate for shutting down Pump.fun entirely, others suggest disabling or moderating the livestream feature as a more balanced approach. Eddie, a legal intern, criticized the platform’s lack of effective governance and noted that much of the content on livestreams is “conceptually lazy” and harmful. “There’s an art to creating engaging content, but what we see on Pump.fun is neither creative nor interesting—it’s dangerous,” Eddie remarked.

Pump.fun executives have defended the platform, emphasizing their efforts to moderate content. Alon, an executive at Pump.fun, explained that a team of moderators and engineers work around the clock to address these issues. “Our moderation isn’t perfect, but we’re constantly improving. If users notice violations, we urge them to report them immediately,” Alon stated.

The situation highlights a broader dilemma for Pump.fun: balancing creative freedom with user safety. While the platform offers users unique opportunities to innovate, the lack of effective controls has led to serious consequences. The community is now demanding decisive action to safeguard users and restore trust in the platform.

Despite the controversies, Pump.fun continues to thrive financially. Since March 2024, the platform has achieved significant success, earning $215 million and enabling the deployment of millions of meme coins. However, without stronger moderation, its reputation and long-term sustainability remain at risk.