A former employee responsible for the $2 million Pump.fun exploit is demanding $100,000 payouts to each contributor, excluding the founders, and is threatening to burn the stolen funds if his demands are not met.
The attacker, who exploited Pump.fun—a Solana-based launchpad for memecoins—gained admin privileges and caused the project to lose nearly $2 million. This individual is now pressuring the project’s management team to distribute $100,000 to contributors, warning that failure to comply will result in the destruction of the stolen funds.
In a May 17 post on X, the exploiter known as “Stacc” declared their intention to burn the stolen tokens if the Pump.fun team does not distribute $100,000 “to every non-founder who has contributed to Pump.fun at any time.”
Although the identities of the project contributors remain undisclosed, Stacc claims that at least seven individuals are entitled to these payments. However, Stacc did not provide details about the distribution process or deadlines for the payouts. As of press time, the Pump.fun team has not issued any public statements regarding the matter.
Based on a post-mortem examination conducted by Pump.fun, an unnamed former staff member misused their “privileged position” within the organization to wrongfully acquire more than 12,000 SOL tokens, with an estimated value of around $2 million. This was achieved through a series of manipulations involving the project’s smart contracts. The Pump.fun team has pledged to reimburse affected users and will waive trading fees for the next seven days.
As previously reported by crypto.news, Stacc admitted to their involvement in the incident via social media, citing personal grievances, including the loss of their mother and “horrible bosses,” as the motivations behind the exploit. Experts have voiced concerns about the potential repercussions of this exploit on the meme coin ecosystem within Solana, particularly given Pump.fun’s significant presence in this market.
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