On Wednesday, the official X (formerly Twitter) account of Pump.fun, a well-known platform for launching Solana-based meme coins, was hacked. The attackers used the compromised account to promote a fake token named “PUMP,” claiming it was the platform’s official governance token. They shared a Solana contract address, urging followers to invest.
Despite early warnings from the community about the account being compromised and the token’s suspicious nature—highlighting that a large portion of the token supply was controlled by a few connected wallets—the fraudulent PUMP token’s market capitalization quickly exceeded $5 million before its value sharply declined.
Alon Cohen, co-founder of Pump.fun, confirmed the hack, advising users not to engage with the misleading posts. He mentioned that the team is collaborating with others to regain control of the account. Cohen also noted that all standard security measures were in place, suggesting the breach might have originated from within X’s infrastructure.
On-chain investigator ZachXBT supported this theory, indicating that the Pump.fun hack might be linked to similar breaches of X accounts belonging to Jupiter DAO and the Dogwifhat (WIF) token. He speculated that the attackers could be using social engineering tactics against X employees or exploiting internal systems.
This incident adds to a series of recent hacks targeting high-profile accounts to promote fraudulent Solana-based meme coins. Notable figures such as rapper 50 Cent and actress Sydney Sweeney have had their accounts compromised, leading to significant financial losses for unsuspecting investors.
Users are strongly advised to verify the authenticity of token promotions and exercise caution before making any investments, especially when information comes from social media accounts that might have been compromised.
