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Pump.fun X account hacked as fake token is promoted

Pump.fun X account hacked as fake token is promoted

GrafaGrafa2025/02/27 03:50
By:Mahathir Bayena

Pump.fun, a Solana-based (CRYPTO:SOL) platform for creating and trading memecoins, had its X account compromised on February 26, 2025.

Hackers used the compromised account to promote a fake governance token called "PUMP" and other fraudulent tokens.

The Pump.fun team confirmed the hack and is working to restore the account's functionality.

They urged users to avoid interacting with the compromised account.

Pump.fun's co-founder, Alon Cohen, quickly responded, warning users against engaging with the fraudulent posts.

Online investigator ZachXBT cautioned users to stay away from the page and avoid clicking any links.

ZachXBT linked the Pump.fun hack to similar compromises of X accounts belonging to Jupiter DAO and Dogwifhat.

He suggested that these incidents might result from social engineering, where attackers deceive employees with fraudulent communications or documents.

"The official Pump.fun governance token, where democracy has never been this degen. We will also be rewarding our OG degens," the hacker stated, advertising the fake token.

The post also included a contract address.

One user reportedly made $135,000 in one minute by manipulating the token's price.

The coin briefly reached a $5 million market cap before collapsing.

The incident is the latest in a series of social media hacks promoting fake tokens, underscoring cybersecurity concerns in the crypto space.

The Pump.fun hack follows the recent $1.4 billion Bybit hack.

In a similar incident, a malicious actor took control of Bermuda Premier David Burt’s X account to promote a fraudulent token called "Bermuda National Coin."

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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