Solana-based memecoin DeFi platform Pump.enjoyable skilled a major breach on Might 16 when an exploiter apparently used flash loans to control the platform's bond curve contracts.
The platform has since suspended all buying and selling actions.
IN declaration on social media, Pump.enjoyable acknowledged the abuse and guaranteed customers that the platform was investigating the problem. The crew wrote:
“We upgraded the contracts so the attacker can't siphon any extra funds. The TVL within the log is protected proper now. Now we have suspended buying and selling – you can’t purchase or promote any cash right now. Any cash at present within the technique of being migrated to Raydium can’t be traded and won’t be migrated indefinitely.”
Business consultants, together with Wintermute head of analysis Igor Igamberdiev, have steered that the important thing has been compromised, elevating the potential for an inside job. He estimated the loss at a minimum of 12,000 SOL, equal to roughly $2 million.
An account on X, recognized as STACCoveflow, claimed duty for the assault shortly after the exploit hit the information. Stacc hinted at a bigger motive in his posts, stating:
“I'm about to alter the course of historical past.”
He indicated that he had no intention of maintaining the stolen funds, however deliberate to redistribute “remaining bond balances” to some token customers. The precise methodology that Stacc used to hold out the assault stays unclear, and it’s unknown if the balances are literally distributed to different customers.
The account is alleged to belong to a doxxed developer who beforehand labored on Pump.enjoyable. As well as, a number of accounts claimed that Stacc dumped stolen SOLs to holders of 4 completely different cash.
Nevertheless, fromcrypto was unable to confirm the social media claims at press time.
