Pump.fun’s social media account was hacked and promoting fake stuff to their followers on February 26.
Their official X account was compromised, and the hackers started pushing a fake governance token called surprise, surprise, PUMP. It’s the latest in a series of security breaches that have the crypto industry on edge.
The hack
The breach was quickly spotted by blockchain expert ZackXBT, who sounded the alarm to warn users away from any suspicious links shared by the hacked account.
It turns out this incident is linked to previous hacks, like the Jupiter DAO and DogWifCoin X account breaches.
These aren’t just random attacks, but it looks like they’re part of a larger pattern of targeted social engineering hacks aimed at big crypto players.
The scam
The hackers used the Pump.fun account to lure in users with promises of rewards for early adopters of the fake PUMP token.
It’s a classic scam tactic, but it can be devastating for unsuspecting investors. The Pump.fun team has since confirmed the breach and is working hard to regain control of their account.
They’ve also reassured users that they had nothing to do with the fake token promotion and warned everyone to steer clear of any related posts.
Hackers’ season?
This hack comes hot on the heels of the massive $1.4 billion Bybit hack, which was linked to North Korea’s Lazarus Group.
It’s the largest crypto hack in history and has raised serious concerns about the security of Web3 platforms and social media-integrated crypto marketing.
The crypto industry is facing a growing cybersecurity crisis, with social media hacks becoming increasingly common.
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