In November 2024, a teenage boy from California created a meme-based cryptocurrency called "Gen Z Quant" and sold $50,000 worth of it in a short time. He purchased 51 million of the one billion units he released, streamed the coin launch on Pump.Fun, and quickly cashed out when the coin's value soared. This act, known as a "soft rug pull," led to a backlash from other investors who felt cheated, resulting in abuse, doxing, and threats against the family. Despite the backlash and ethical concerns surrounding the soft rug pull, the boy continued creating new memecoins, making additional profits. The incident highlights the regulatory gaps in the cryptocurrency market and the vulnerability of investors in the memecoin trading space.