A perpetrator who used apparent flash loans in order to purchase the bonding curvature attacked Pump.fun Thursday.
Pump.fun posted on X that the game was a great way to have fun. “aware” The investigation revealed that there were problems with the contracts.
“We have upgraded the contracts so the attacker cannot siphon any more funds. The TVL in the protocol right now is safe,” The team stated. “We’ve paused trading — you cannot buy and sell any coins at the moment. Any coins that are currently in the process of migrating to Raydium cannot be traded and will not be migrating for an indefinite period of time.”
Igor Igamberdiev of Wintermute’s research department analyzed the problem in a number of posts to X and said that the key had been compromised. “though the possibility of an inside job remains.”
Igamberdiev stated that the Pump.fun amount of money lost is “at least” The equivalent of approximately $2 million is 12,000 SOL.
Stacc, a user on X who goes by the name of X, claimed credit for this attack. “I’m about to change the course of history” Post a comment
Stacc implied in his postings that he wasn’t planning to keep the stolen cash, but would rather transfer it. “remaining balances of bonding curves” Some token users
The publication does not reveal how Stacc executed the attack. Or if it is distributing balances randomly.
Blockworks has previously covered Pump.fun, which allows tokens to be launched without any seed liquid for just a couple dollars. Users buy and sell tokens to generate revenue.
Raydium DEX can list tokens exceeding the market cap of $69,000.
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