Solana’s Latest Absurd Scam: From Eight-Figure Gains to a Tiny $260 Rug Pull

TL;DR:

• Trader James Wynn allegedly launched and drained the $WORLD memecoin on Solana, netting just 3.2 SOL, equivalent to around $260.
• On-chain data shows the same wallet that created the token sold 220 million WORLD tokens within minutes of launch, across seven consecutive transactions.
• Wynn claimed his account was hacked, but the community rejected the explanation given his prior history with memecoins throughout 2025.

Solana was once again the stage for an alleged rug pull involving a well-known name in the industry. On May 27, the token $WORLD —whose full name was THE REAL WORLD— was launched on Pump.fun with the contract address AmpR1bXuz5hVQZ7CTtBbrHW91MB6TDrJ5Np7rupApump. Minutes after launch, the wallet that created it liquidated the entire position.

What Does the Solana On-Chain Data Show?

On-chain data available on Solscan identifies wallet HH7jLETzcS…5R3QCgzW2M as responsible for swapping 220 million WORLD tokens for 26.5 Solana (SOL) in a single transaction valued at $2,242. After deducting fees and initial costs, the net result was approximately 3.2 SOL, around $260. On-chain analytics account Lookonchain published that the trader behind that wallet was James Wynn, a trader who had accumulated over $100 million in unrealized gains on the Hyperliquid platform.

James Wynn(@JamesWynnReal) just launched a token called $WORLD and rugged it.

He made only 3.2 $SOL($260) from it.https://t.co/ZVWYPylm9l pic.twitter.com/DrXUFFlpSo

— Lookonchain (@lookonchain) May 28, 2026

In total, the wallet executed seven exit transactions within the same block window. The smaller transactions ranged between $8.40 and $841, with a final exit of $2,242 in a single move. Wynn had posted the token’s contract on his X account moments before the sales were executed, racking up more than 44,000 views before he mentioned any incident.

Nobody Believed Wynn’s Words

Hours later, Wynn posted on X that his account had been hacked. The community’s response was skeptical. A user identified as sadcryptoguy999 wrote: “Sure, we’ve heard that one before.” Another, saitama_gtz, pointed out that Wynn had launched multiple memecoins throughout the year and called him outright a scammer. The most cited comment came from hahahodling: “He went from $100 million in unrealized gains to rugging for 2 SOL. This downfall needs to be studied.”

The on-chain analysis on Solana shows that the pool creation, the initial purchase of 66 million WORLD tokens for 2 SOL, and the subsequent sales share the same transaction hash: 4UPU5ydUqXuq8X. On DEX Screener, the token’s chart shows a single peak near $0.0000165 followed by a collapse to $0.0000034. The market cap at the time of publication was $3,300. The token remained active on Pump.fun with a 24.3% progress on its bonding curve. No additional statement from Wynn was made beyond the tweet about the hack.