PumpFun Reverse-Engineering Nearly Complete; Meme Coin Survival Stats
Shaw's team has reverse-engineered 97.6% of PumpFun's smart contract bytecode and plans to release the full stack including frontend and backend — while raw data shows only 118 of 23.1M launched coins ever exceeded $1M market cap.
What we know
Shaw reports agents are attacking the remaining ~2.4% of unmatched bytecode and plans to release the full codebase including frontend and backend. Separately, Market Insider put the staggering attrition in perspective: 23.1M coins launched, 118 above $1M market cap. The Goats feed echoes the theme — an account on X is releasing KOL side-wallet analysis to expose bundling behavior on new pairs, and adm RTs commentary on how the community rewards the very behavior it complains about.
How the story developed
Shaw's team has reverse-engineered 97.6% of PumpFun's smart contract bytecode and plans to release the full stack including frontend and backend — while raw data shows only 118 of 23.1M launched coins ever exceeded $1M market cap.
PumpFun faces a RICO class-action lawsuit naming its founders and 25 unidentified KOLs for fraudulent promotion schemes; separately, its smart contracts are being reverse-engineered, with experts warning Solana's security-through-obscurity era is over.
A coordinated #BOYCOTTPUMPFUN movement has caused PumpFun's daily volume to drop over $110M in just two days. Community anger is driven by Block 0 bundling, PvP dynamics, dev fee extraction, and allegations Alon paid $6M to a 'notorious rugger.'
Developer Shaw claims to be 90% done reverse-engineering all PumpFun smart contracts and plans to publish them tonight, a move that could reshape the Solana memecoin launchpad landscape.
Sentiment across onchain and meme coin markets is poor, with Pumpfun facing sharp criticism as a loss-generating machine for retail, while $PUMP buybacks continue and traders like slingoorio distribute SOL rewards to loyalists.
A 'project kimchi' token launched suspiciously — a fresh wallet bought 50% of supply and migrated to PumpSwap before any public post. PumpFun then reportedly dumped $875M in SOL, sending the token to $103. Multiple sources are reconstructing the timeline.
The Kimchi token cratered 98% to a $284K market cap after Pumpfun co-founder Alon removed his repost, illustrating the fragility of influencer-driven memecoins and the meta-gaming strategies used to extract value from retail.
PumpFun has now sold a cumulative 14M SOL ($875M) amid a scandal involving influencer kimchi1x posting a rug that PumpFun's Alon retweeted before deleting, triggering broad criticism of PumpFun's direction and SOL sliding to $103.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.