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In a disturbing cyber security incident, the official X (formerly Twitter) account of PumpFun, which is a well-known memecoin launchpad on the Solana network, was hacked. The hackers took control of the hacked account to market a fake PUMP token, tricking followers into thinking it was an official drop.
The Breach: How It Happened
The unauthorized login into PumpFun’s X account was initially discovered when a post popped up advertising what was presented to be the “official Pump.fun GOVERNANCE token.” The post assured users that the first adopters would receive high returns, enticing the users to engage with the fraud.
The Fake Token Scam
Spammers often utilize compromised accounts to produce an illusion of authenticity. Here, they utilized the reputation of PumpFun to sell a non-existent token, misleading users into sending money or linking their wallets to threatening contracts.
PumpFun’s Response
The PumpFun team were quick to respond, validating the breach and advising users against interacting with the imposter PUMP token. They are currently working on regaining access to their account and stopping any harm to their business caused by the fraud.
Keeping Yourself Safe from Crypto Scams
As phishing and social engineering attacks become increasingly prevalent, users should follow the below precautions:
Check official statements: Always check updates on multiple channels, including official websites and Discord servers.
Do not click on malicious links: Malicious links are usually used by attackers to steal credentials or empty crypto wallets.
Turn on two-factor authentication (2FA): Enhance account security by employing 2FA wherever available.
Double verify contract addresses: Only interact with confirmed contracts published on trusted sources.
The PumpFun X account hack is another reminder of the dangers of online security in the crypto world. Users must be careful, keep an eye on official channels for updates, and not get involved with unverified token launches. While the PumpFun team sorts out their account, it’s important to raise awareness to avoid more victims falling prey to similar scams.
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