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A platform for launching Pump meme tokens.fun on Solana accused a former employee of an exploit with $1.9 million in damages.
According to the statement, the attacker used a "privileged position" to gain access to withdrawal rights.
He borrowed flash loans in SOL, which he used to buy up tokens to the maximum until they reached 100% on the "binding curve". As a result, the hacker gained access to liquidity to pay off obligations.
Out of the total amount of liquidity of $45 million, losses amounted to $1.9 million.
The team promised 100% compensation to affected users and restarted token trading, zeroing out the commission for the next seven days.
"Solana-shitcoins are back and more significant than ever," the statement reads.
Igor Igamberdiev, head of research at Wintermute, confirmed that the incident is related to the compromise of private keys and the user X under the nickname staccoverflow.
According to the statement, the attacker used a "privileged position" to gain access to withdrawal rights.
He borrowed flash loans in SOL, which he used to buy up tokens to the maximum until they reached 100% on the "binding curve". As a result, the hacker gained access to liquidity to pay off obligations.
Out of the total amount of liquidity of $45 million, losses amounted to $1.9 million.
The team promised 100% compensation to affected users and restarted token trading, zeroing out the commission for the next seven days.
"Solana-shitcoins are back and more significant than ever," the statement reads.
Igor Igamberdiev, head of research at Wintermute, confirmed that the incident is related to the compromise of private keys and the user X under the nickname staccoverflow.
