A memecoin trader stunned the crypto world by making an extraordinary $988,000 profit in just three hours, despite trading a fraudulent cryptocurrency. The trader began with an investment of only 2 Solana (SOL), worth $460, in the newly created Gen Z Quant (QUANT) memecoin. The token, launched via Solana’s Pump.fun platform, was later revealed to be a rug pull—a scam where developers abandon a project and pocket investor funds.

Onchain intelligence firm Lookonchain highlighted the feat, stating:
“This guy made $988K with only 2 $SOL($462) in just 3 hours, a 2,141x return! He bought 18.89M $Quant and sold 3.71M $Quant for 116 $SOL($27K), leaving 15.18M $Quant($962K).”

The QUANT memecoin, created on Nov. 20 by a wallet named “Fi2h,” was a deliberate scam orchestrated by a teenager. The teenager even live-streamed the rug pull, selling all his tokens for 128 SOL ($30,000). Despite his actions, the remaining tokens surged in value as the memecoin community rallied to invest further, pushing QUANT’s market capitalization to over $1 million at its peak.

At the time of reporting, QUANT was trading at $0.0005 with a market capitalization of $571,000.

This event highlights both the risk and allure of memecoin trading, where fortunes can be made or lost in hours. Similar success stories include a trader in May who turned $3,000 into $46 million during the PEPE memecoin frenzy. While lucrative, these trades underscore the need for extreme caution in volatile, unregulated markets.