Solana's Pump.fun Exploited in $80M Flash Loan Attack by @STACCoverflow

May 16, 2024, 04:44 PM

Pump.fun, a Solana-based token platform, has reportedly been exploited by a user named @STACCoverflow. The attacker utilized flash loans to buy up all Pump.fun tokens in a single transaction, causing the tokens to fill but not hit Raydium, effectively locking users out of their positions. The exploit is estimated to have caused $80 million in damages. The attacker also completed all the token's bonding curves, further complicating the situation. Marginfi, another platform, was also implicated in the exploit but has stated that its operations are normal and funds are safe. Users are advised to avoid trading Pump.fun tokens until further notice. Be wary of disinformation regarding the exploit.