News Article Translation:
Pump fun, a meme coin issuance platform on the Solana blockchain, has been attacked. The attacker, an anonymous individual named staccoverflow, is said to have previously worked at Pump fun and launched the attack due to dissatisfaction with the platform. However, there are also claims that the attack was a result of staccoverflow’s recent loss of his mother, leading to mental instability and the subsequent attack on Pump fun.
Currently, the Pump fun protocol has been temporarily suspended, and the Phantom wallet has blacklisted the Pump fun website.
There are also various speculations regarding the attack method and the amount stolen. Staccoverflow claims to have successfully obtained 80 million USD through a series of attacks, with rumors suggesting the use of Marginfi’s flash loans as the attack method. However, Wintermute’s research director, Lgor Lamberdiev, further stated that besides utilizing flash loans, the main reason for the attack seems to be the leakage of Pump fun’s private keys. Lgor Lamberdiev claims that the attacker stole a total of 2000 SOL and a large amount of meme coins.
It is worth mentioning that staccoverflow appears to have used the stolen SOL for random airdrops to holders’ addresses, including Slerf, Stacc, Saga, risklol, and others. Many people have claimed to have received these airdrops and expressed their gratitude.
Update (May 17, 10:00):
The Pump fun team released an investigation report stating that there were no vulnerabilities in the Pump fun contract. The reason for the hack was the unauthorized misappropriation of approximately 12,300 SOL (approximately 1.9 million USD) by a former employee. The team has redeployed the contract and reopened trading.
However, some meme coins have been affected by this incident and are unable to be traded. In order to provide full compensation to users, the team will provide seed funding within the next 24 hours for all coins that reached 100% on the bonding curves between 15:21 and 17:00 UTC, allowing these coins to be relisted on Raydium with liquidity not lower than before. As part of the compensation plan, the platform will not charge any transaction fees for the next 7 days.
