According to Odaily, pump.fun, a platform on X, has reported a security breach. A former employee allegedly exploited their privileged access within the company to illegally gain withdrawal privileges. The individual then used a loan agreement to carry out a flash loan attack, stealing approximately 12,300 SOL, equivalent to around $1.9 million.
In response to the incident, pump.fun has upgraded its contracts, effectively preventing the attacker from stealing any more funds. The platform has taken swift action to mitigate the damage and secure its system against future attacks. The incident underscores the importance of robust security measures and protocols in the digital finance sector, particularly in the face of increasing cyber threats.