Pump.Fun has seen its X account compromised through a possible social engineering hack.
By Godfrey Benjamin
Edited by Marco T. Lanz
Updated
3 mins read
On Wednesday, the X account of Pump.fun, a well-known Solana-based token launchpad, suffered an unexpected hack. The hacker used the account to promote fake tokens with the intent to swindle users.
Reports say the hacker claimed to launch a non-existent “official governance” token for the platform, along with other fraudulent tokens.
It is worth mentioning that after the hacker gained access to the X account, they falsely promoted a supposed official token of Pump.fun. In addition, It included an image from the platform’s recent mobile app launch video and a Solana contract address for the so-called PUMP token.
Despite early warnings from the community about the suspicious post and the token concentration in few wallets, the price of the asset still soared in value. Before the time of this writing, the coin saw its market capitalization jump briefly to a $5 million market cap before it collapsed.
Pump.fun’s co-founder, Alon Cohen, quickly responded, urging users to avoid interacting with the compromised account.
@pumpdotfun account has just been compromised. Please don’t interact
— alon (@a1lon9) February 26, 2025
In addition, He later disclosed that the team had not regained access to the account, but efforts were underway to restore control. During this period, the hacker continued to take advantage of the terrible situation by promoting additional scam tokens to the account’s followers.
While discussing the situation, Cohen explained that the team followed all standard security procedures. Thus, the breach might have originated from within X itself.
Similarly, this speculation gained support by ZachXBT, a well-known on-chain investigator. ZachXBT linked the Pump.fun hack to similar compromises of X accounts belonging to other blockchain projects such as Jupiter DAO and the Dogwifhat (WIF) token.
ZachXBT added that the attacks might result from social engineering, where malicious actors deceive employees with fraudulent communications or documents.
Again, this hack is just the latest in a series of incidents in the crypto-blockchain space. The rise of memecoins and other altcoins has increased scams.
Hackers are taking advantage of the growing interest and volatility in the market. So, with platforms like Pump.fun enabling quick token launches, bad actors have found opportunities to exploit the platform and its users.
Last week, the LIBRA token scandal rocked the crypto community, which saw a wave of fraudulent tokens being promoted on several platforms. The Pump.fun hack follows this trend, as interest in memecoins has cooled off since the scandal, and broader market demand for such tokens has slowed.
In related news, Pump.fun was accused of collaborating with third parties to create tokens designed to intimidate clients and disrupt ongoing legal processes.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
