Pump.fun exploiter slams ‘horrible bosses,’ demands $100k payouts for non-founders

The former employee behind the $2 million Pump.fun exploit is demanding $100,000 payments to each of the contributors, excluding the founders, while threatening to burn the stolen funds.

The attacker behind Pump.fun, a Solana-based memecoin launchpad that lost nearly $2 million after a former employee gained administrative privileges, is threatening to burn the stolen funds unless the project’s management team distributes $100,000 to contributors.

@pumpdotfun I agree that I probably don’t seem trustworthy when it comes to promising to burn tokens at 7ihn.

If you don’t trust me, give $100k first to every non-founder who has contributed to pumping at any point. I count 7 or 8 people. Or so. 🙂 support included.

— 🔥🪂staccoverflow ; at work ; (@STACCoverflow) May 17, 2024

In a May 17 .”

Although the identities of those who contributed to the project are not disclosed, Stacc claims that at least seven people are eligible to receive these payments. However, Stacc did not provide any details regarding the distribution process or payment due dates. As of press time, the Pump.fun team had not issued any public statement on the matter.

According to a post-mortem analysis by Pump.fun, an anonymous former employee used his “privileged position” within the company to misappropriate more than 12,000 SOL tokens worth approximately $2 million through a series of manipulations. smart contracts of the project. The Pump.fun team has committed to refund affected users by waiving transaction fees for the next seven days.

As crypto.news previously reported, Stacc acknowledged his involvement via social media and cited personal grievances, including the loss of their mother, and “horrible bosses” as motivating factors for the abuse. Experts express concern about the possible repercussions of this exploit on the meme coin ecosystem on Solana, especially considering Pump.fun’s significant presence in this market.