On February 26, the X account of the meme token factory Pump.fun was hacked to promote fraudulent tokens. The project team regained control of the account later the same day.

we've regained access to this account. Based on current information, the extent of the compromise was limited to this X account.

TL:DR: the security protocols taken by the team to secure the X account were thorough, relied on industry best-practices, and focused on minimizing…
— pump.fun (@pumpdotfun) February 26, 2025

The attacker initially posted information about a fake governance token for platform users, including a wallet address. Later, they began promoting meme coins with names referencing the hack, such as HACKED and hackeddotfun.

On-chain investigator ZachXBT linked the Pump.fun hack to recent attacks on other X accounts. Affected accounts included Jupiter DAO and DogWifCoin, both of which were used to promote fake meme tokens.

The expert stated that project teams were not at fault in these incidents. He suggested that the attacker may be using social engineering tactics against X employees, possibly through forged documents or phishing emails, or exploiting a vulnerability in the platform’s system.

Previously, X user DFarmer accused Pump.fun of extracting $600 million from the ecosystem over the past year and cashing it out into fiat.

It’s been a year of https://t.co/i34Mss42fi bullshit.

They extracted 600 million dollars from the ecosystem, straight to fiat.

Almost 9000000 coins launched on their platform.

There is not a single one that stands over 500 million mcap.

A grand total of 5 over 100 million.…
— DFarmer (@OGDfarmer) February 26, 2025

He pointed out that nearly 9 million tokens have been launched on the platform, none of which have reached a market capitalization above $500 million.

Since its launch in January 2024, Pump.fun’s total revenue from fees has reached $431 million.

There have also been rumors that the platform may introduce Automated Market Maker (AMM) features. Trader trenchdive reported that on February 20, the Pump.fun team added the first test token, CRACK, to an AMM pool.