Pump.fun, a decentralized platform for creating and promoting Solana-based memecoins, is under scrutiny following reports of users misusing its live stream feature to broadcast harmful and violent acts.
The incidents have sparked outrage within the crypto community, with some members calling for the livestream feature to be shut down entirely.
Disturbing Livestream Incidents on Pump.fun
The controversy began when a Pump.fun user reportedly threatened self-harm during a livestream if their memecoin failed to reach specific price targets. Beau, a safety product manager at Pudgy Penguins, disclosed the incident on social media.
According to Beau, the user sent a screen recording in which they appeared to go through with the act, leading to widespread condemnation of the platform’s lack of effective moderation. “This is out of control,” Beau stated, urging Pump.fun to shut down its livestream feature.
Other incidents have only added to the growing criticism. Reports include a user firing a gun out of a window every time their token’s price increased, a child threatening violence against their family, and another individual claiming they would commit a school shooting if their memecoin didn’t perform as expected. These alarming cases highlight the potential dangers of unregulated livestream features in decentralized platforms.
Pump.fun’s Response
The pseudonymous creator and leader of Pump.fun, known as Alon, responded to the backlash by defending the platform’s existing moderation efforts.
Alon explained that the platform employs a team of moderators working around the clock and has engineers dedicated to improving moderation tools as the platform scales.
“We have a large team of moderators working around the clock and an internal team of engineers helping us deal with the increased scale of coins, streams, and comments,” Alon stated.
He also reassured the community that moderation has been a priority since the platform’s inception and emphasized the team’s commitment to addressing illicit content.
However, many community members remain sceptical, arguing that Pump.fun’s current measures are insufficient to prevent harmful behaviour.
About Pump.fun
Launched in January 2024, Pump.fun allows users to create Solana-based memecoins with fair-launch mechanics, meaning no team allocations or pre-mined tokens. The platform gained popularity for its decentralized approach, empowering users to create and promote their tokens independently.
Livestreams, initially designed to boost engagement and provide a community-driven experience, have become a focal point of criticism due to their recent misuse.
Calls for Stricter Regulation
The incidents on Pump.fun underscore the challenges of moderation in decentralized platforms. While the crypto space values decentralization and freedom, incidents like these highlight the need for balancing innovation with safety and accountability.
Critics argue that the platform should implement stricter guidelines or even suspend the livestream feature until effective safeguards are in place. The incidents have reignited debates about the ethical responsibilities of decentralized platforms and the measures they should adopt to ensure user safety.