Solana memecoin creation tool pump.fun has claimed a former employee exploited the firm for nearly $2 million through a “bonding curve” attack. The ex-employee used their “privileged position” to access a “withdraw authority” and compromise the protocol’s internal systems, pump.fun alleged in a May 16 X post.
About $1.9 million was stolen from the total $45 million held in pump.fun’s bonding curve contracts. The platform temporarily paused trading but it is now back up and running. The pump.fun smart contracts “are safe,” and users impacted by the incident will receive “100% of the liquidity” that it previously had within the next 24 hours, pump.fun said.
Approximately 12,300 SOL, worth $1.9 million, was stolen in the attack, which pump.fun sai occurred between 3:21 pm and 5:00 pm UTC on May 16.
The Solana Memecoin Launchpad said users impacted between these hours would recover 100% or more of the liquidity held prior to the attack.
President Donald Trump is expected to meet with executives from some of the biggest names in crypto and…
Grayscale Investments has quietly abandoned plans to launch three cryptocy exchange-traded funds tied to Cardano (ADA), Polkadot…
Ether.fi is making a major push beyond Ethereum staking by transforming its self-custodial DeFi app into…
The Blockchain Association is throwing its support behind Custodia Bank in a potentially consequential Supreme Court battle over whether…
Nearly 14,000 Trezor customers have had personal information exposed after an unauthorized party breached systems belonging to ShipMonk,…
Bitcoin has entered one of its quietest trading periods in years, with 30-day realized volatility hovering near…