Loading...
Market
Story
Pump.fun Exploited via Flash Loans, $80M in Losses Reported
May 16, 2024, 04:32 PM
Pump.fun, a cryptocurrency platform, has been exploited by a malicious actor using flash loans. The attacker has bought up all the Pump.fun tokens, causing the platform to break and preventing users from exiting their positions. The exploit has reportedly resulted in approximately $80 million in losses. The attacker completed all Pump.fun token's bonding curves, leading to a supply shock for memecoins. Marginfi, another platform, has been implicated in the exploit but continues to operate normally. Users are advised not to trade Pump.fun tokens until further notice.
View original story
Similar markets
No further action taken • 33%
Additional firings in the surveillance team • 33%
Restructuring of the surveillance department • 34%
Hacker Arrested • 25%
Hacker Remains At Large • 25%
Funds Fully Recovered • 25%
Partial Fund Recovery • 25%
Yes • 50%
No • 50%
Implementation of enhanced security protocols • 25%
Partnership with a security firm • 25%
Audit by third-party security experts • 25%
No significant changes • 25%
Mostly negative • 33%
Neutral • 34%
Mostly positive • 33%
Settlement reached • 33%
Legal action dismissed • 33%
Legal action results in damages awarded • 34%
Significant loss of market trust • 33%
Moderate impact on market trust • 33%
Minimal impact on market trust • 34%
Settlement Reached • 25%
Criminal Convictions • 25%
Case Dismissed • 25%
Ongoing Investigation • 25%
No charges filed • 33%
Charges filed against some companies • 33%
Charges filed against all investigated companies • 33%