Solana Meme Coin Platform Pump.Fun Exploited For $1.9M, Vows To Repay Users
Portfolio Pulse from Murtuza Merchant
Solana-based meme coin platform Pump.Fun was exploited for $1.9M by a former employee using flash loans. The platform has halted trading, redeployed contracts, and pledged to repay users. The incident affected a small portion of the platform's total liquidity pool.
May 17, 2024 | 3:27 pm
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Solana's ecosystem faced a security breach on the Pump.Fun platform, resulting in a $1.9M exploit. The platform has taken swift action to mitigate the impact and reassure users.
The exploit on Pump.Fun, a platform within the Solana ecosystem, could temporarily affect investor confidence in Solana. However, the swift response and measures to repay users may mitigate long-term damage.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80