Roaring Kitty-linked RKC rug pull sees developer wallets cash out over $600K

Keith Gill’s verified X account has briefly triggered a Solana memecoin frenzy after posts promoting Red Kitten Crew (RKC) appeared and were later deleted, while blockchain analysts traced hundreds of thousands of dollars in profits to wallets linked to the token’s developer.

According to blockchain analytics firm Lookonchain, the now-deleted posts from Gill’s @TheRoaringKitty account included the ticker and Pump.fun contract address for RKC, sending the token’s market capitalization to nearly $12 million within minutes before a sharp reversal wiped out most of the gains.

By the time the posts disappeared, panic selling had accelerated across Solana traders. 

Dexscreener data showed the token later dropped roughly 67% from its peak valuation, while Lookonchain estimated that nearly $10 million in market value vanished during the sell-off.

At the center of the controversy, Lookonchain alleged that the developer behind RKC accumulated 395.18 million tokens, equal to 39.52% of the total supply, through 10 separate wallets before public traders entered the market. 

The analytics firm said the wallets spent just 20 SOL, worth around $1,950, to secure the position before unloading the holdings for about 5,071 SOL, or nearly $495,000.

Additional Pump.fun creator fees added another 1,209 SOL, worth about $118,000, according to Lookonchain’s on-chain analysis. 

Combined, the wallets and creator fees generated roughly $611,000 in realized proceeds, while earlier estimates from the analytics firm placed the total cash-out closer to $729,000.

Community scrutiny intensified after Gill’s account activity resurfaced for the first time in more than 15 months. 

No public statement had been issued by Gill or his representatives at the time of writing confirming whether the posts were authentic or the result of a compromised account.

Crypto commentator StarPlatinum compared the incident to previous celebrity-linked account hacks used to promote fraudulent meme coins.

Trader loses nearly $190K after deleted post

Separate blockchain data highlighted how quickly retail traders were caught in the reversal.

According to Lookonchain, one trader spent about $250,000 to buy 31.15 million RKC tokens shortly before the promotional posts disappeared from Gill’s account.

After the token crashed, the trader sold the position for only $62,200, locking in a loss of roughly $188,600 within an hour.

Wallet concentration during the launch also raised manipulation concerns among traders monitoring Solana meme coin activity. 

Bubblemaps, another blockchain analytics platform, issued a warning earlier this week over a separate Solana memecoin called Mystery (MYSTERY), stating that 90 newly funded wallets accumulated 90% of the token supply at launch.

Dexscreener data later showed the Mystery token losing more than 98% of its peak $7.5 million market capitalization after Bubblemaps described the setup as a “textbook scam.”

Elsewhere, similar accusations surrounding token launches have already drawn political and regulatory attention in the US. 

Earlier this year, former New York City Mayor Eric Adams denied allegations that he personally benefited from the launch of the Solana-based NYC Token after blockchain analysts linked wallets tied to the deployer to millions of dollars in removed liquidity during the token’s collapse.

At the state level, New York assembly member Clyde Vanel introduced Bill A06515 in 2025, proposing criminal penalties for crypto-related fraud, including undisclosed token ownership and rug pulls involving developers who dump substantial portions of token supply. 

The proposed legislation would allow penalties of up to $5 million and prison sentences reaching 20 years for individuals convicted under the measure.