Pump.fun, Solana-based token issuance platform, falls victim to a bonding curve exploit
CryptoNewsTerminal Staff16 May, 2024
Pump.fun, Solana-based token issuance platform, falls victim to a bonding curve exploit
Pump.fun, a Solana (SOL)-based token issuance platform, recently fell victim to a bonding curve exploit. A bonding curve is a mathematical function that determines the price of a token based on its supply and demand. By manipulating the bonding curve, attackers were able to purchase large amounts of Pump.fun's PUMP token at a discounted price. Pump.fun has since suspended trading and is investigating the issue. According to estimates from on-chain experts, the attackers made off with around $300,000 worth of SOL. This exploit highlights the importance of robust security measures for token issuance platforms and serves as a reminder to investors to exercise caution when dealing with new and untested projects.
