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The "dark history" of Pump.fun after the acquisition of Padre
Pump.fun is the top tier launchpad for meme coins, and the recent wave of operations has exploded—after the acquisition of the cross-chain trading terminal Padre, it directly announced that the PADRE token is no longer useful.
What does useless mean? It means the price plummets by 80%, and a bunch of people are stuck holding the bag. The community collectively shouts "rug pull," accusing Pump.fun of coming to harvest the leeks.
The contrast has come: the local coin PUMP has stabilized instead. The platform has initiated a buyback + destruction of 9.4% of the circulation, and large whale holders are following suit to go long, now stabilizing at $0.004.
Ironically, Pump.fun is still the top player in the meme coin track — holding 62.7% market share and daily commissions of $2.13 million. However, this operation exposed a problem: **the protection of token rights during the acquisition is essentially non-existent**. After investors get scammed, what will the platform use to compensate them?