defi ·
Pump Fun faces boycott over missing airdrop, Kimchi partnership, amidst $2.5M competition
Crypto participants are currently boycotting the memecoin platform Pump Fun.
This action stems from the firm's failure to issue an airdrop, multiple rug pulls, and the disorganized token launch involving crypto trader Kimchi.
Users on X have utilized the hashtag “BOYCOTTPUMPFUN” and associated graphics to hold Pump Fun accountable for what they term the “worst month ever in the trenches.” One instance of the boycott graphic was shared by the crypto X user ‘RonPull’ on Friday, October 23, 2026.
Influencer Jack Duval, another boycotter, announced on Sunday that he is initiating a movement to reduce Pump Fun's revenue until an airdrop is released. Duval stated that the boycott could succeed with just a few thousand crypto traders, expressing a desire to hold Pump Fun responsible for using “misleading marketing tactics to lure in new participants and artificially increase trading volume.”
During this boycott, the crypto X account ‘Crypto Banter’ revealed internal Telegram chats from Burwick Law’s second amended lawsuit filed in January. These chats, leaked by a whistleblower, showed that Pump Fun co-founder Alon Cohen admitted creating a market for low-value tokens that exposed users to “really really low odds that come with gambling.” This evidence amplified the efforts of disgruntled crypto traders.
The recent collaboration between Pump Fun and Kimchi also contributed to the boycott's intensity. Crypto analyst Bubblemaps observed that Kimchi likely generated only $6 million trading Donald Trump’s TRUMP token, contrasting with the $40 million Pump Fun claimed. Kimchi's subsequent token launch on Thursday resulted in what users deemed another rug-pull.
Cohen later retracted a post, and Kimchi deleted several Pump Fun posts, including the token launch announcement. Speculation arose regarding whether Kimchi's account was compromised or if the launch was mishandled by Kimchi and Cohen.
The boycott coincides with a Pump Fun competition offering a share of $2.5 million to the group achieving the highest trading profit over two weeks. This competition has faced criticism, with some asserting it merely allows Pump Fun Key Opinion Leaders (KOLs) to profit further and drawing ire over the Kimchi situation.
These developments highlight ongoing scrutiny regarding transparency and promotional practices within decentralized finance ecosystems.
Why it matters
This situation highlights governance and trust issues within decentralized trading platforms, where marketing promises clash with operational transparency. The ongoing boycott puts pressure on Pump Fun amid existing legal scrutiny and questionable token launches.
