The Pump.fun X account was compromised on Feb. 26 to promote a fake governance token called “PUMP” and other fraudulent coins in the latest cybersecurity incident to impact the crypto industry.
Online sleuth ZackXBT warned users to stay away from the page and not to interact with any links posted by the compromised social media account.
According to the onchain detective, the Pump.fun social media hack is directly tied to the Jupiter DAO account hack in February 2025 and the DogWifCoin X account compromise in November 2024. ZackXBT added that these hacks were not the fault of either team.
ZackXBT tracing funds from the recent hack. Source: ZackXBT
“The official Pump.fun governance token, where democracy has never been this degen. We will also be rewarding our OG degens,” the hacker wrote in a message advertising the fake token.
Source: Pump.fun
The Pump.fun team has also confirmed the hack and is working to restore the account to its proper functionality.
This incident is merely the latest in a torrent of social media hacks advertising fake tokens to users and comes on the heels of the recent $1.4-billion Bybit hack — the biggest single hack in crypto history — and has placed the issue of crypto cybersecurity front and center.
Pump.fun’s team confirmed the incident on a Telegram channel. Source: Pump.fun
Related: Bybit hacker launders $335M as funds continue to move
Pump.fun and memecoins come under the microscope following token scams
Argentine President Javier Milei promoted the LIBRA token in a now-deleted X post on Feb. 14, which was pitched as a project to help inject liquidity into startups and small businesses in Argentina.
However, Milei later backtracked, pulling his support for the token, which resulted in a $107-million rug pull and has been described as an international incident.
The fallout from the LIBRA scandal signals the end of memecoins, according to venture capitalist Nic Carter.
“The memecoin trade was entirely based on a claim that was ultimately exposed as a lie - that the casino was at least fair,” the VC wrote in a Feb. 19 post.
The authentic account of Premier David Burt, pictured left, and the fraudulent account, pictured on the right, with discrepancies highlighted in red. Source: David Burt
On the same day, a malicious actor took control of Bermuda Premier David Burt’s X account to promote a fraudulent token called “Bermuda National Coin.”
Almost immediately after the initial posts, scores of Bermuda National Coin meme tokens started to appear on Pump.fun.
Burt later discovered the memecoin scam, brought attention to Elon Musk and the X team, and raised questions about how the scammer obtained a gray checkmark verification reserved for government officials.
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