Dylan Kerler, co-founder of Pump Fun, has been linked to several ICO scams from 2017, including eBitcoinCash and EthereumCash, which collectively defrauded investors of $75,000. Promoted via the BitcoinTalk forum, these scams resulted in significant financial losses coinciding with the secret sale of holdings. Connections to Kerler were identified through specific accounts, and attempts to reach out for comment from Pump Fun remain unanswered.
Dylan Kerler, co-founder of Pump Fun, has been implicated in several Initial Coin Offering (ICO) scams linked to “shitcoin rugpulls,” which reportedly defrauded investors of $75,000 when he was just 16 years old. A report by WIRED revealed that during 2017, Kerler’s name was connected to the launch of eight cryptocurrencies, notably eBitcoinCash and EthereumCash, which amassed Ether (ETH) worth approximately $400,000 today.
The developer promoted these coins on the BitcoinTalk forum, making extravagant claims that spurred interest and elevating the market value of EthereumCash to £1.3 million. However, WIRED uncovered that the market manipulation included covert sales of EthereumCash, leading to an 88% decline in its price. EtherDelta was used for these transactions, resulting in 240 ETH, which were subsequently transferred to various wallets across centralised exchanges.
According to the chief security scientist at Certik, there are strong suspicions that EthereumCash served as a vehicle for the developer’s rug pull. The links between Kerler and the ICO scams were substantiated by the utilisation of accounts named DOMAINBROKER and ninjagod. DOMAINBROKER’s communications included an email bearing the name Dylan Kerler, while ninjagod identified Kerler as the EthereumCash developer in a forum thread.
This developer claimed to be situated in Brighton, UK, and Kerler’s residency aligns with this assertion, as his address appears in electoral records and corporate filings related to Pump Fun. Furthermore, Equis, another coin promoted by ninjagod, exhibited identical coding to EthereumCash and has been associated with a YouTube account linked to Dylan Kerler’s name.
Neither Pump Fun nor Dylan Kerler have responded to inquiries from WIRED. Protos has also attempted to contact Alon Cohen, co-founder of Pump Fun, for comment and will provide updates if a response is received.
