James Wynn faces scam allegations after the $ASSDAQ presale, with claims of token sniping, a pump and dump, and deleted project posts.
Author: Arushi Garg
22 April, 2026: James Wynn, a UK-based leveraged trader known for turning early PEPE positions into over $100 million, is now facing allegations of scamming followers through the $ASSDAQ memecoin presale. After suffering near-total losses from liquidations on Hyperliquid, Wynn launched a donation-style presale on Solana, raised an estimated $8,000–$13,000, then allegedly acquired over 50% of the token supply, pushed the market cap to around $322,000, exited for roughly $70,000 in profit, and deleted all related posts.
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Alex S
@ITSalexSMC
@0xRarest I a bit jealous of him making so much money. But not so jealous of him losing that much money tough…
Meet the trader who turned $100M to $900 and then begged his followers for SOL in a memecoin presale James Wynn (Holder of the largest BTC long in history): 1) called PEPE early when it was still under $1M market cap 2) turned roughly $7k into over $25M on that single trade https://t.co/KlxpCasuOV
06:14 AM·Apr 22, 2026
MK
@MKDev05
@0xRarest He made at least 4 coins that went above 90k some even above 100k and he rugged them alland deleted his post, absolute scammer
Meet the trader who turned $100M to $900 and then begged his followers for SOL in a memecoin presale James Wynn (Holder of the largest BTC long in history): 1) called PEPE early when it was still under $1M market cap 2) turned roughly $7k into over $25M on that single trade https://t.co/KlxpCasuOV
11:16 PM·Apr 21, 2026
Dolo King
@central9dogma
@0xRarest The fact coins like that still fall below 10k so quickly and so easily exposes a major problem with how solana and pumpfun do liquidity.
Meet the trader who turned $100M to $900 and then begged his followers for SOL in a memecoin presale James Wynn (Holder of the largest BTC long in history): 1) called PEPE early when it was still under $1M market cap 2) turned roughly $7k into over $25M on that single trade https://t.co/KlxpCasuOV
10:56 PM·Apr 21, 2026
Steady attention without excessive speculation.
James Wynn rose to prominence through high-risk leveraged trading strategies, reportedly turning early PEPE positions into over $100 million. However, in April 2026, multiple liquidations on Hyperliquid reduced his account from approximately $100 million to under $1,000 within weeks. Following these losses, Wynn launched the Solana-based memecoin $ASSDAQ through a donation-style presale. Unlike traditional token sales, this structure required participants to send SOL directly to a wallet, with no smart contract escrow, allocation guarantees, or automated distribution mechanism.
According to on-chain data, the presale raised between $8,000 and $13,000. On April 20 and 21, Wynn allegedly accumulated more than 50% of the token supply, drove the market cap to approximately $322,000, then sold his holdings for an estimated $70,000 profit. Tokens were reportedly not distributed to participants, and related posts were deleted shortly afterward.
Timeline: From leveraged trading success to memecoin controversy and community backlash
James Wynn gains widespread attention after turning early PEPE bets into over $100 million using high-leverage trading strategies.
Wynn experiences near-total liquidations on Hyperliquid, with his portfolio dropping from around $100 million to under $1,000.
Following losses, Wynn launches a donation-style presale for the Solana memecoin $ASSDAQ, promising large supply allocations and airdrops.
After raising funds, he allegedly accumulates over 50% of supply, pumps valuation to $322K, exits for roughly $70K, and deletes all related posts.
The crypto community surfaces on-chain evidence, triggering widespread allegations of a scam against Wynn.
The crypto community responded with widespread criticism, with multiple accounts citing on-chain evidence, including wallet clustering and transaction timestamps, to support allegations of an alleged rug pull. One affected participant stated: We sent SOL expecting allocations, but no tokens ever arrived. Then the wallet dumped and everything disappeared.
Blockchain data shows rapid outflows from the primary wallet associated with the presale during the April 20–21 window, coinciding with the token’s peak valuation. Following the sell-off, $ASSDAQ’s market cap fell from approximately $322,000 to below $5,000 within hours. As of publication, Wynn has not issued a public statement and has removed most project-related content.
A digital asset compliance expert noted: Cases like this highlight the structural risk of off-chain presales. Without escrow or enforceable contracts, participants have little to no protection.
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