- Pump.fun has resumed trading following a recent platform exploit.
- The memecoin project identified an ex-employee to be behind the recent exploit.
- The project’s team outlined new protocols for users, assuring them of funds’ safety.
Pump.fun, a platform for launching memecoins on the Solana blockchain, has resumed operations following a recent exploit that resulted in the theft of nearly $1.9 million. The Pump.fun team attributed the attack to a former employee who misused their privileged access to misappropriate funds.
https://t.co/uE2QNKXkIT coin migration issue post-mortemTL;DR:
1. the https://t.co/uE2QNKXkIT contracts are safe. they have always been safe
2. a former employee used their privileged position at the company to misappropriate ~12.3K SOL (~$1.9m)
3. https://t.co/uE2QNKXkIT is…
— pump.fun (@pumpdotfun) May 16, 2024
In the process, the bad actor used their privileged position at the company to misappropriate nearly 12,300 SOL, equivalent to almost $1.9 million. The team confirmed that normal operations have resumed and user funds are safe. They have also implemented security upgrades to prevent similar attacks in the future.
Following th…
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