Kimchi’s X account, whose real name is Clayton Kim, posted a link to a new token presented as a QR code as part of Pump Fun’s “Pill Your Friends” promotion campaign. The Project Kimchi token reached a market capitalization of $14 million before plunging to roughly $600,000 within minutes and falling to $183,000. Pump Fun co-founder Alon Cohen reshared and then quickly removed the post, while Kimchi deleted several Pump Fun-related posts and removed the platform from his bio. Many users suspected a hack, while others believe the launch may have been intentional and caused by poor management. Pump Fun also repeated an unverified claim that Kimchi made more than $40 million trading TRUMP, although Bubblemaps puts his publicly verifiable profits closer to $6 million.
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