PumpFun Live Stream Feature Spark Worries of Fraud, Manipulation, and Participant Safety

Has the PumpFun Live-Stream Feature Increased Threats of Violence and Self-Harm?

Following stories of users threatening violent actions and self-harm during promotional live streams on the platform if their tokens don’t hit specific price points or market caps, Pump.fun has been under intense scrutiny. Pump.fun, a decentralized launchpad for meme coins on the Solana blockchain that allows users to create their own tokens with a few clicks, was introduced in January by a team that uses largely pseudonyms. Since then, it has gained popularity.

In August, the platform launched a live-streaming feature that lets users advertise the debut of their tokens. Even the most high-risk degenerate members of the crypto community are gravely concerned about the increasingly deadly conduct that has resulted from this, including criminal activities and suicide threats.

This behavior might attract regulatory scrutiny or lead to calls for banning such platforms due to concerns over fraud, manipulation and the safety of participants,

one community member

Pump.fun Faces Backlash as Live Streams Spark Alarming Threats and Illegal Activities

Pudgy Penguins’ safety program manager, Beau, raised serious concerns about Pump.fun’s live-streaming feature. Beau reported that a user had allegedly threatened to hang themselves if their token failed to reach a specific market cap.

Absolutely heinous and it needs to come down and see if you can get them help. Shut down the live stream feature. This is out of control.

Beau

A child threatening to shoot his family, threats against animals, child abuse, different sexual actions, and individuals locking themselves in cages are among the other occurrences that have been recorded. According to Trading Strategy co-founder Mikko Ohtamaa, the platform has two choices: either stop moderation in accordance with crypto-anarchism and be promptly shut down by law enforcement, or stop the livestream feature and be shut down after regulators have had a chance to consider the matter.

I advocate for freedom of speech, but these streams are causing practical issues where people are breaking the law in live broadcasts. This will trigger a shutdown when the mainstream media catches wind of this. It will become an easy target for career politicians and police to go after, and further ‘crypto is only for criminals’ narrative.

Ohtamaa

Alon Stresses Free Speech While Committing to Curb Dangerous Content on Pump.fun

One of the platform’s creators, Alon, acknowledged the community’s very valid worries but asserted that hundreds of streams have been removed and that content is actively regulated.

Although we strongly stand for free speech and expression, it’s our responsibility to ensure that users don’t see clearly repulsive/dangerous content and that bad actors aren’t given a platform to act as they wish. Let me make it abundantly clear: we actively moderate illicit content on the site. That includes images, videos, live streams and comments.

Alon

Although users can adjust their settings to prevent seeing those kinds of coins, Alon pointed out that pornographic content is permitted. Additionally, they acknowledged that Pump.fun’s moderation isn’t flawless and pledged to be more open about the guidelines.

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