2024

Solana

Coin

<ul class="news-points">
 <li>Pump.fun has resumed trading following a recent platform exploit.</li>
 <li>The memecoin project identified an ex-employee to be behind the recent exploit.</li>
 <li>The project’s team outlined new protocols for users, assuring them of funds’ safety.</li>
</ul>
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.
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 <a href="https://t.co/uE2QNKXkIT" target="_blank" rel="noopener noreferrer nofollow">https://t.co/uE2QNKXkIT</a> coin migration issue post-mortem TL;DR: 1. the <a href="https://t.co/uE2QNKXkIT" target="_blank" rel="noopener noreferrer nofollow">https://t.co/uE2QNKXkIT</a> 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. <a href="https://t.co/uE2QNKXkIT" target="_blank" rel="noopener noreferrer nofollow">https://t.co/uE2QNKXkIT</a> is…— pump.fun (@pumpdotfun) <a href="https://twitter.com/pumpdotfun/status/1791235050643636303?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 16, 2024</a>
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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…
The post <a href="https://coinedition.com/pump-fun-exploit-ex-employee-steals-1-9m-in-sol-tokens/" rel="noopener noreferrer nofollow">Pump.fun Exploit: Ex-Employee Steals $1.9M in SOL Tokens</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Pump.fun Exploit: Ex-Employee Steals $1.9M in SOL Tokens

Coin Edition

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