Pump Fun X account hacked, used to promote phony governance token
Pump Fun’s X account was hacked today and used to launch a phony “governance token” called “$PUMP” that rose 517,000,000% in price before crashing 99.9% in minutes. The platform’s 23-year-old pseudonymous COO, Alon Cohen, posted on X, “account has just been compromised. Please don’t interact.” The hacked account said, “Introducing $PUMP,” and claimed it was, “The OFFICIAL pump.fun GOVERNANCE token, where Democracy has never been this degen.” A screenshot of one of the token shills shared by the Pump Fun hackers. Read more: Hacked X and Insta accounts used for Pump Fun rug pulls It attempted to promote at least two different token contact addresses and claimed that Pump Fun would supposedly use 50% of its fees to buy back the tokens and lock them up for five years. It said the token “will allow holders to vote on platform changes and reward long-time users for being an OG degen.” One to...