Pump.fun just took a hit—an X account hijack that’s got everyone talking. This Solana-based platform, known for making cryptocurrency creation a breeze, fell victim to hackers who compromised its official X account.
What happened next? A wild ride of fake tokens, scams, and a hefty $600,000 loss for unsuspecting users. Just another day in the crypto playground, right?
The hackers wasted no time. They promoted a phony governance token called “PUMP,” along with other not-so-creative scams like OG and Extract Protocol (EXAI).
Investors, clearly not reading the room, jumped in. The “PUMP” token even reached a market cap of $5 million—before crashing back down like a poorly thrown baseball. Ouch!
ZachXBT, a well-known blockchain investigator, sounded the alarm first on Telegram. But by then, these scammy tokens were already raking in the dough.
The scam artists made off with around $600,000, not to mention an extra $90,000 from other fraudulent tokens. How’s that for a payday?
The fallout? Users have been warned to steer clear of the compromised account until it’s back under proper control.
Market confidence in memecoins? Yeah, that took a serious hit. Some folks are calling this hack “the nail on the meme coin coffin.” Harsh but fair.
Pump.fun stated that while their X account was hijacked, their main systems remained untouched. Investigations are underway, with social engineering a likely culprit. Social media account vulnerabilities have been highlighted as a significant concern in the wake of this incident. In fact, the hack occurred on February 27, 2025, raising more questions about security practices. The incident underscores the importance of using crypto wallets to enhance security for digital assets.
No changes to account settings or two-factor authentication were detected—so how did this happen? Questions hang in the air, and the community is buzzing with concerns about potential insider involvement.
In the end, Pump.fun is scrambling to recover and restore faith. But as this incident shows, trust in social media accounts is a slippery slope in the wild west of crypto.
