In the crypto world, a single click can make you rich overnight or even ruin you for the rest of your life. That’s what happened to a Solana user recently. He accidentally burned 10 million PUMP tokens, which were valued at around $75,000 at the time.
It all happened simply because he wanted to clear his wallet of junk airdrop tokens. Unfortunately, he ended up burning a popular token instead.
The incident began when the user utilised the automated burn tool, a feature of Axiom Exchange, to eliminate unknown tokens.
The problem was that the PUMP tokens, recently airdropped, were also considered junk and sent directly to the burn address. One click, and they were gone forever. Not only did they empty their wallet, but they also became the talk of the entire Solana community.
Furthermore, the user’s wallet was tracked and identified as belonging to the account CryptoCharming, a well-known whale. He admitted on social media, jokingly, that he had now contributed to the deflation of the PUMP token.
PUMP token surges, catching users off guard
Ironically, PUMP isn’t a bad token. According to GMGN data, at the time of writing, PUMP has actually risen 7.34% in the last 24 hours. Its market cap has surpassed $5.71 billion, and its daily trading volume has reached $376.9 million.
On the other hand, this incident has made many people aware: don’t use token cleaning tools carelessly. Because sometimes, tokens that “seem” like spam actually have the potential to generate significant profits in the near future. Imagine throwing away used paper that turns out to contain a prize check.
Unfortunately, burned tokens cannot be reclaimed. So, it is important for holders to always double-check before clicking the burn button, especially if they don’t know the exact origin of the token. Sometimes, what seems trivial can be valuable.