A trader achieved an astonishing 2,100-fold return on investment within three hours by trading a scam token that ultimately turned out to be a rug pull — a scam where developers abandon a project and steal investors’ funds.
According to a Nov. 20 post from on-chain intelligence firm Lookonchain, the trader turned an initial investment of 2 Solana (SOL), worth about $460, into nearly $1 million:
“This guy made $988K with only 2 $SOL($462) in just 3 hours, a 2,141x return! He spent 2 $SOL($462) to buy 18.89M $Quant and sold 3.71M $Quant for 116 $SOL($27K), leaving 15.18M $Quant($962K).”
The token in question was Gen Z Quant (QUANT), a memecoin launched on Solana’s Pump.fun platform.
Although the memecoin was later revealed as fraudulent, memecoins like QUANT remain popular for their high volatility and potential for quick profits.
This isn’t the first time memecoins have delivered life-changing gains.
In May, a Pepe (PEPE) trader turned a $3,000 investment into $46 million during the token’s price surge.
QUANT’s launch on Nov. 20 was orchestrated by a wallet called “Fi2h,” allegedly belonging to a teenager who live-streamed the rug pull.
Lookonchain highlighted the scam in another post:
“A kid created a coin $Quant while live-streaming and sold all of it for 128 $SOL($30K), making a profit of $29.6K! The 51M $Quant he sold is now worth $4M! He then created $lucy and $sorry, selling all of them for another profit of 103 $SOL($24K)!”
Despite the live-streamed rug pull, the QUANT memecoin unexpectedly gained momentum.
The memecoin community rallied around the token, pushing its market capitalization to over $1 million, according to GeckoTerminal data.