pump.fun is back online, and the trading fee is 0% for the next 7 days

ChainCatcher news, pump.fun tweeted that the contract is safe. A former employee misappropriated approximately 12.3K SOL (about 1.9 million USD) by exploiting their privileged position in the company to illegally obtain withdrawal permissions and used the Solana lending protocol for flash loans, borrowing SOL and purchasing as many tokens as possible to push these tokens to 100% on their respective bonding curves. Once these tokens reached 100%, liquidity from the bonding curve was obtained, and the flash loan was repaid. During this period, all transactions on pump.fun were halted.

Of the total affected liquidity, only about 45 million USD was impacted. The Pump.fun team redeployed the contract, transactions have reopened, and trading fees will be 0% for the next 7 days.

Tokens that reached 100% between 15:21-17:00 UTC are in a pending state, meaning no one can trade them before LP is deployed for them on Raydium.

To compensate users, the pump.fun team will seed LP with an equal or greater amount of SOL liquidity for each affected token within the next 24 hours.

Previous news, the pump.fun attacker is suspected of conducting random airdrops of the stolen funds, with recipients including holders of slerf, saga, and others.