The post Pump.fun Attacker Says He Wanted to ‘Kill’ Solana Meme Coin Launcher appeared on BitcoinEthereumNews.com.

We do the research, you get the alpha! Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game! Go to Alpha Reports Pump.fun, the popular tool for launching meme coins on Solana, suffered an exploit on Thursday that left the protocol compromised, and prompted its leadership to temporarily shut the site down. All the while, the apparent attacker behind the stunt gloated about it online.  The attack appeared to target accounts, called bonding curve contracts, that move the liquidity of tokens of a sufficient size created on Pump.fun, onto the Solana decentralized exchange (DEX) Raydium.  Some on-chain sleuths deduced that with the aid of a private key—one only an employee of Pump.fun would have access to—the attacker diverted funds earmarked for Raydium to unrelated wallet addresses.  Igor Igamberdiev, head of research at crypto market maker Wintermute, estimated that the attacker siloed off at least $2 million worth of SOL using this exploit.  In a twist, however, the attacker immediately began airdropping the stolen funds to random wallet addresses. He appears to have selected holders of a handful of Solana tokens and NFTs as the non-consenting recipients of the Pump.fun loot.  One of the collections receiving the $40m pump dot fun hacker airdrop is Staccs Currently has a 3 sol floor. NFA don’t buy unless you want to go to jail pic.twitter.com/HdZpDGsIYU — rasmr (@rasmr_eth) May 16, 2024 Within minutes of the attack, a Twitter account belonging to a former Pump.fun employee claimed responsibility for it. The user began posting extensively and somewhat erratically, writing that he was not afraid of imprisonment and was aware his identity was doxxed.  “Everybody be cool, this is robbery,” the account wrote. “I’m about to change the course of history. [And] then rot…

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Filed under: News - @ May 17, 2024 10:22 am