How do people fall for such obvious rug pulls?

I just came across a one-minute video that explains the simplest rug pull method on pump.fun. I checked the wallets from the video, and it’s true. People literally don’t check newly created coins for basic red flags. Some rug pullers create a coin, buy a large supply of it in one transaction, and then other traders start buying in too, only to lose their money.

All you need to do is check the “Trades” tab to see the shady activity happening.