Crypto Chaos: Pump.fun Hacked!

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🚨 Crypto Chaos: Pump.fun Hacked! 🚨

Crypto Chaos: Pump.fun Hacked!

So, you know how they say “if it seems too good to be true, it probably is”? 🤔 Well, that’s what happened to Pump.fun, a Solana-based token launchpad, when their X account got hacked on Wednesday. The hacker was like, “Hey, let’s promote some fake tokens and make some easy cash!” 💸

Apparently, the hacker claimed to launch a “official governance” token for the platform, along with some other shady tokens. And, of course, they included a fancy image from the platform’s recent mobile app launch video and a Solana contract address for the so-called PUMP token. 📸

Hacker Exploits Pump.fun X Account to Promote Fake Tokens

Now, here’s the thing: even though the community was all, “Uh, guys, this seems sketchy,” the price of the asset still went up in value. Like, briefly, it had a $5 million market cap. 😂 But, of course, it collapsed. Because, you know, it was a scam.

Pump.fun’s co-founder, Alon Cohen, was like, “Hey, guys, don’t interact with our compromised account!” 🚨 And then he later said that the team hadn’t regained access to the account, but they were working on it. Meanwhile, the hacker was still promoting more scam tokens to the account’s followers. 🤦‍♂️

@pumpdotfun account has just been compromised. Please don’t interact

— alon (@a1lon9) February 26, 2025

Cohen said that the team followed all the standard security procedures, so the breach might have come from within X itself. And, of course, ZachXBT, a well-known on-chain investigator, was like, “Yeah, this is probably social engineering.” 🤔

Increased Risk of Token Fraud in Crypto Space

So, this is just the latest in a series of incidents in the crypto-blockchain space. With all the memecoins and altcoins out there, it’s like a playground for scammers. 🎢 And with platforms like Pump.fun making it easy to launch tokens, it’s like an all-you-can-eat buffet for bad actors. 🍴

Last week, we had the LIBRA token scandal, and now this. It’s like, what’s next? 🤷‍♀️

And, fun fact: Pump.fun was also accused of collaborating with third parties to create tokens designed to intimidate clients and disrupt ongoing legal processes. 🤯

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2025-02-26 23:52