Pump.fun on Solana was hacked and lost nearly $2 million! The mastermind behind the scenes was actually a former employee

Pump.fun, a meme coin market and coin issuance tool based on Solana, suffered a hacker attack early this morning (17), losing nearly $2 million, causing the platform to suspend trading for a time. All of this was actually a revenge act by a former employee.

The official team of Pump.fun posted a message early in the morning saying that the former employee used his "position" to illegally obtain "withdrawal rights" and stole $1.9 million from the Bonding Curve contract of the protocol.

Pump.fun is a meme coin issuance tool and community platform based on Solana, which can support users to deploy and issue tokens at a very low cost (0.02SOL) without any development experience. Since its launch in January 2024, more than 460,000 tokens have been issued. As of May 9, Pump.fun's cumulative revenue has exceeded US$17 million (charging a 1% transaction fee)$SOL