Pump Pumpkin's founder, Yonatan Badash, boasted about making $800,000 from a token launch on Pump.fun, which quickly plummeted 93% in value. Amid growing investor outrage and allegations of a scam, Badash provocatively threatened to "rug" the project, leading to a flood of complaints in their Telegram group. Many investors, including COO Mohammad Muavia, expressed disbelief over the project's legitimacy, fearing it could not recover its reputation.