Pump.fun’s X Account Hacked to Promote Fake Token

In Brief:

Hackers took over Pump.fun’s official X account to promote a fake PUMP governance token.

One trader flipped $5.5K into $135K within a minute, taking advantage of the price spike.

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Pump.fun, a leading meme coin launchpad, fell victim to a social media hack today, with bad actors using its official X account to promote a fraudulent token, PUMP. The fake announcement misled users into believing it was an official governance token, triggering a flurry of trading activity.

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Analysts at Bubblemaps discovered that two wallets held over 60% of the token supply, signaling price manipulation. Despite warnings, one trader capitalized on the situation, turning $5,532 in SOL into $135,000 within minutes.

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This incident reflects a growing trend of hackers targeting crypto social media accounts to push scam tokens and rug pulls. As of now, Pump.fun’s X account remains compromised, with hackers continuing to promote fraudulent projects.

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