- Trader unknowingly burned 10M PUMP tokens.
- The tokens were worth over $75,000.
- Mistake happened during a junk token cleanup.
In an unfortunate turn of events, a crypto trader recently burned 10 million PUMP tokens—worth over $75,000—by accident. The mistake occurred while the user was using a token-cleaning tool to remove unwanted airdropped tokens from their wallet.
The incident serves as a harsh reminder of the risks involved in managing digital assets, especially in the fast-moving and often chaotic world of decentralized finance ( DeFi ).
What Went Wrong with the PUMP Token Burn
The trader’s intention was to clear out what they thought were “junk” tokens—airdropped coins that often clog wallets and offer no real value. However, among those tokens was $PUMP, a memecoin that has recently gained value thanks to a growing online community and speculative interest.
Without realizing their worth, the trader included the 10M $PUMP tokens in the burn process. Burning, in blockchain terms, refers to the act of permanently removing tokens from circulation, usually by sending them to an inaccessible wallet address. Once burned, these tokens cannot be recovered.
Lessons for the Crypto Community
This incident highlights the importance of due diligence. With memecoins like PUMP gaining rapid value, what looks like a worthless airdrop today could be a valuable asset tomorrow. Users should always check the current market value of tokens before removing or burning them.
Using wallet-cleaning tools can be helpful, but they also carry risks if not used carefully. It’s crucial to understand each step of the process and double-check token details before taking irreversible actions like burning.
Read Also :
- Cardano Leads PoS Tokens in Daily Engagement
- Hyperion Boosts $HYPE Holdings With $5M Token Buy
- Circle Applies to Launch First USDC Digital Bank
- Standard Chartered Launches Bitcoin, Ethereum Trading
- KindlyMD Raises $51.5M in 72 Hours to Buy Bitcoin
