Anonymous Trader Phantom Reveals $60K Weekly Profits from Rugging 98% of Memecoins on Pump.Fun
- Phantom, an anonymous crypto trader, exploits vulnerabilities in the meme coin market to earn $60,000-$65,000 weekly.
- Using automated tools like DogWiffTools, Phantom creates fake demand, drawing in unsuspecting investors before dumping tokens.
- 98.5% of tokens launched on Pump.Fun are rug-pulled, leaving legitimate buyers with worthless assets.
- Former Pump.Fun employees have also been implicated in similar scams, underscoring the platform’s systemic issues.
One standout insight from NFT Nate’s investigation is the sheer simplicity of executing these scams. Phantom described the process as “brain-dead easy,” indicating that minimal capital and basic tools are sufficient to create and launch fraudulent tokens.
As the sophistication of rug-pulling tactics grows, even experienced traders may find it increasingly challenging to avoid these scams. The memecoin market’s cutthroat nature demands heightened vigilance and a critical approach to new token investments.
